First, congrats on you selection of filters. Since you picked the B&W, I'll recommend that you download the Filter Handbook from schneideroptics.com.
Looking at the two images that you posted, it appears that you adjusted the filter for a dramatic sky, and since the sky appears lighter to the left in each image, I suspect that the sun was on your left. The polarized will work best when the sun is less that half way between the horizon and the zenith, and gives the most dramatic sky when the sun is 90 degrees to the lens axis.
The water is still showing the reflections for a couple of reasons: First, the light that is reflecting off the water has had its polarity changes slightly from what is coming from the sky. Second, the surfaces of each of the ripples is changing the polarity slightly from the overall reflection. Stacking two polarizers might give the sky that you want and near reflection-less water, but you might need a 20 min exposure.
I hope this helps,
Paul |