We've been there today, and it's definitely worth it! For $25 dollars you get a tame horse with a very friendly guide, a 30min ride to the waterfall, as much time as you need to take a dip and great tasty lunch afterwards.
Santi, who runs the place, is a charming, full of passion type of guy. The horses are tame, but like to race a little. The waterfall is gorgeous, but watch out on the slippery rocks. Its deffinitely worth to have a swim. It's really wet around, so don't bring to much stuff with you, and be prepared to get your shoes wet (don't wear flip flops!).
Take into account, that you're expected to tip the guide ($5-$10), you'll be able to buy some locally made cocoa and coffee (RD200 a piece), and some guy will try to sell you a photo he made at the beggining (RD300, easy to haggle down). Still it's worth it, as the money goes back to the community!
The best way to book is to do it directly! Google for "santi rancho el limon".
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