I find it to be a great fall/winter scent. On different days, my nose picks up on different facets of this one. (And there are lots and lots of facets.) Today, it smells very balmy and woody, and even a little bit boozy. I'm experiencing the floral notes in the background, although on other wearings they're more prominent.
Classifying fragrances is notoriously difficult, but I'd call Cool Water a fresh fougere. Very roughly, fougere scents feature lavender at the top and mossy green notes in the base.