Sketch is great! The focus is clear and the dichotomy between human and creature is well balanced. IMHO.
But the colorized version loses a lot of the clarity, because the contrast is too evenly distributed. The diver's legs, the seaweed fronds, and the pipe/chain pull attention away from the two figures.
Use a strong vignette to pull attention back to the center.
Nice work, great sketch. I agree with Eric, you need to change something with contrasts, and I think you could to fix it also playing with colors. Imagine water as very dense fluid. It will impact your shadows and colors making them less dark and warm colors less saturated. You can use it as your advantage to guide a viewers eye.
I really really like the sketch, both the quality and the scene itself, great job done. Regarding the colored version, don't have anything to add to what's already been suggested. Looks unfinished and less detailed compared to the sketch.
Replies
But the colorized version loses a lot of the clarity, because the contrast is too evenly distributed. The diver's legs, the seaweed fronds, and the pipe/chain pull attention away from the two figures.
Use a strong vignette to pull attention back to the center.