Two men wearing red jackets are looking out over some water and one man has yellow earphones on his ears.
Some men wearing red winter jackets are looking over a lake and listening to music.
It is never stated that the men are looking over a lake, just over some water, which can be anything from a pond to the ocean.  Just because the man has headphones in doesn't mean he's listening to music. It could be a podcast, or an audiobook.
In the first sentence, it does not refer to red winter jackets, just red jackets.
Over some water does not necessarily mean it is a lake.