This splash effect is well known to regular riders of Splash Mountain - some love it and some hate it. Yes, we're talking about that soak-to-the-skin splash that you used to get on the second lift heading up into the mountain.
Since reopening from its refurbishment earlier this year, Splash Mountain has a new revised water canon splash that originates from the final drop. Previously, a log coming down the main drop would cause a water canon to fire that would dump a large amount of water on a log that was entering the second lift on the left hand-side of the mountain. The new splash profile still fires the water, but makes it fall just short of the log, preserving the dryness of the riders (for at least a while).
We're not sure if this change is permanent, or if it's just being tested for colder weather operation, but check out the video below which shows the new splash in operation.