This isn’t really a comment about the new version, it applies to the original as well. Is that supposed to be a horseshoe that has been thrown? I don’t know when the photo was taken but surely shutter speeds at that time would not have been capable of freezing the horseshoe like that? Is this perhaps some sort of fake, like the Cottingley Fairies?
To my eye it appears the man may be holding a handle or a bunched knot with strings to the horseshoe but with unclear image not sure about that 
and the 'strings' and creases on jacket merge together. In the repaired image that hand looks double clenched with extra fingers ... again just as it is to my eye
Maybe you are right, I didn't try to fix any think (like hand fingers for example), I just extracted details.
