I thinik it has some nice potential... but what software are you tonemapping in?
It certainly can increase everything with tonemapping, contrast, colors...
or are you NOT tonemapping?
What disturbs me is the inevitable movement of the water, which holds a different form from natural moving in all images exposed, and when mixed in to one final picture. merge into what I cannot for my life feel is water, but rather some kind of enormous cotton-blanket and which destroys the feel of true natuire to me...
I think that images like these should not be made HDR from different exposures, but rather from one single RAW-file, in order to keep the form of the minute waves and other moving things...
Water should be water, and not cotton...
A top notch HDR-software, with internal tonemapping is found at
http://www.mediachance.com
Its excellent.
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Holy Cows makes the Best Hamburgers.
and one may make fantastic stop-motion films when they turn them over...