I love shooting water, and I love this shot. I think the colors work well together. To take the shot I used a pyrex baking dish and placed a print from my computer underneath it. I had two flashes on either side and the flash on my camera. I just held a dropper above the water and took a few hundred shots, lol.
Post processing: Crop, Contrast, Brightness, Saturation, Neat Image, Resize.
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Very good focus on water drop. I did a water drop shot for a challenge once; I know how hard is it. Even though the popular sentiment is that water shot are overdone, I got to respect the best realisation.
The picture is made because the drop is so sharp. your choice to leave the whole splash OOF is better than had it been partially in focus. The colors aren't awesome (they clash a bit), but I like it. 8
I would have liked the colors to be a little bolder. I think you're facing some stiff competition in this challenge - there were some pretty amazing water drop pictures posted.