Whew, that must've gotten the ol' ticker going, eh? Sounds like you hit the major lightning safety points, given your situation. The one thing you didn't mention, which you may have done, was to keep your body low since the two of you were probably the tallest objects on the sandy bank.

I have read that 15 feet is the minimum spacing between people, so 25 feet seems adequate. I don't know if lifejackets provide much electrical insulation, but I don't think it would hurt to stand on them.

Glad you're safe!