First of all, I think this is a true masterpiece. The uniformness and coherence in both composition and color scheme of this image is mind boggling. The beautiful settings also reminds me of one spot I frequent here (Wedgemount Lake).
The shore bend leads the eye towards the pass on the far side of the lake, while the ragged peaks reflect perfectly in the lake's calm waters. I think the watermark is very tastefully toned down, and doesn't detract from the image at all.
There are just two things that I think could be improved. In terms of the composition, half a step back might have allowed the horizon to be right on the 1/3 mark while the peaks would still fit. Maybe even in a 4:3 crop.
The perspective could also be corrected so that the reflection is perfectly symmetrical. Currently, the reflection of the rightmost peak is visibly to the left of where it would be without perspective distortion.
This is why I love DA. You get to read an Ivan Andreevich critique of a Xavier Jamonet piece. So much awesome knowledge just floating around for free.
Excellent critique and an outstanding photo.