The "older version" you have is actually modern Scottish Gaelic. I'm not sure if this Scottish proverb is known in Ireland, but it's easily understood anyway. Translated into Irish it would be "Éireoidh/éiríonn tonn ar uisce ciúin". Scottish Gaelic "èiridh" corresponds to both the future tense "éireoidh" and the present habitual tense "éiríonn" in Irish. I think in the case of proverbs, the present habitual is more apt (using the future tense would imply a definite future action, rather than a tendency): "'Éiríonn tonn ar uisce ciúin".