The waters seen flowing over the levee in this picture...
... do not appear to be from Lake Ponchatrain, but rather from the south-east and the Mississippi. Have a look at the satelite photos from Google Maps at this link: Zoomed in. Now, zoom out, and look at what is right next door.
Dude... The waters seen flowing in that picture are flowing into the canal from outside the canal. The housing area is flooded up higher than the levee on the canal. That is Ponchartrain water that's gone out into the housing area and is coming back into the canal downstream.