I really like what you've done here, but you must take my excitement with a grain of salt and heres why:
I LOVE HDR treatments or simulated HDR effects or whatever they are calling it these days. I think I am in the minority though simply because it can easily be overdone and so many photographers who attept it, do so far too heavy handed, if you ask me. I believe this is why so many folks are turned off by the process. I still believe it can be a very effective tool if used properly and not overdone.
With that said, my nit is not with the HDR look, it is with the overpowing cyan and yellow cast in the water (and perhaps on the swimmer) and also the lack of highlights that pop in contrast with the shadows. I would accentuate some of the highlights to really make them pop and I would do a selective color adjustment and make the water more blue. Hope this helps. I am certainly anxious to see where you go with this one! Nice work!
Stepping into the creative realm is probably someplace that I should not go. There's a term for the high contrast, low saturation look...bleached something or other. That's what I was trying to achieve. Regardless, thanks for the input; mucho appreciated.
Is the color, at least skin tone, better?
Green water, I know and agree. I'm pretty sure that arises from the angle the light is hitting the water and it surprises me since my speedlights were bounced, not direct.
Perhaps I should just stay with B&W? At least my color issue will be solved
Personally, I had no issue with the skin tones in the original. The subsequent reposts though, leave the skin tones way too yellow in the first and way too blue/magenta in the second.
I'm with Paul, I like the B&w one as well, but don't take the easy way out. You're much closer on the last version IMO, but you are going to have to do a selective color adjustment. Applying the color correction to the photo as a whole will not fix the problem. You are either going to have the water looking correct and the skin tones not, or vice-versa.
I thought the first one was alright (color wise and I do like the effect), the second attempt was ghastly but your last one in post #6 has the best overall color & skin tones.
And yeah, you're chopping off his arm, and most people prefer the fly with arms full out but your image is a terrific face shot without losing the sense of power and speed.
Pope High School Huh? I am a North Cobb HS parent and would love to network with Ya'.
I like the BW but the funny thing is, the last photo probably took you back to your original photo before applying the HDR type effect. . What goes around, comes around. Haha.
You're much closer on the last version IMO, but you are going to have to do a selective color adjustment. Applying the color correction to the photo as a whole will not fix the problem. You are either going to have the water looking correct and the skin tones not, or vice-versa. 
. What goes around, comes around. Haha.