We have this. Ours is all faced in rock and I think it looks good. The raised wall leads to a waterfall then neg edge on the left side and to the retaining wall on the right side. The wall steps down as the slope decreases on the right side. I can't access a picture from this computer but will try to post one tomorrow.
Judy

Thanks Judy! I'd love to see it. So did you use a retaining wall with a stone face on it?

Finally getting back with a picture. Hope this helps you. In this picture, the raised bond beam transitions to the retaining wall behind the chair on the left side of tanning ledge. Let me know if you have questions.
Judy

In this picture, you can see the flow of the walls from above.

oops! Here is the second picture

Gorgeous pool Judy! And thank you for the pictures. This is a huge help. I keep asking PB for pics of this and he is searching but nothing so far from his files. We'd have to pay extra for the stone facing (on the bond beam and retaining wall blocks) which makes me nervous. We'd have a sheer descent instead of natural waterfall. Our pool will be grecian so we'll have a straight wall/bond beam on the side instead of curved like yours.
But your pool seems very similar to ours in some ways. I see you have a tanning ledge as well. We are also thinking about that with the bubblers. Do you like it?

Glad the pics help. Regarding the tanning ledge...yes we like it. If I had young kids I would definitely want it, but not at the expense of a large shallow end. My dog LOVES it! The bubblers were something the pool builder suggested but really I don't find them that great...most of the young kids we've had over play with them for a couple of minutes and lose interest. If I had known, I would have left them out.

For the wall...maybe you could do tile in the poll and transition to rock for the retaining wall part but put the transition where there will be plants to hide it. Once our landscaping grew in it changed the look completely.
Judy

That's a good idea. PB finally suggested that tonight. Putting plants/bushes in front of it.
Thank you!

Hi, I realized that you post was 8 years old... But we are facing the same problem of transitioning from raised bond beam to dry stack wall. And your post is the only one that's related to this issue.... is it possible to see a pic of how your wall look in the end w/ the plants help hiding the transition? really appreciate it..