SID MISINTERP. PF; FO; STARTED SID TURN EARLY AND CONFLICTED WITH OTHER DEPARTING TFC. CTLR INTERVENED AND KEPT SEPARATION.

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THE RWY 8 LGL7V SID READS: FOLLOW EXTENDED RWY CTRLINE TOWARDS OYE LCTR UTILIZING ILS 26 (111.75 OLW). AT D2.5 OL TURN R; INTERCEPT OL R-086 TO D6.5 OL; TURN R INTERCEPT CLM R-249; TURN R 'ETC.' (THIS IS A DOUBLE-BACK PROC TO TAKE YOU W. IT WINDS UP PARALLELING RWY 8 ON THE S SIDE.) THE FO WAS FLYING USING RAW DATA. HE HAD IT IN HIS MIND THAT AT THE D2.5 OL HE WAS TO TURN R TO INTERCEPT THE CLM R-249. THIS HE STARTED TO DO. BEFORE WE WERE WELL INTO THE TURN; THE DEP CTLR TOLD US TO TURN BACK L IMMEDIATELY TO A HDG OF 060 DEGS. SHE THEN SAID SOMETHING IN FRENCH. (WE BELIEVE SHE WAS TELLING AN OPPOSITE DIRECTION B747 TO TURN L IMMEDIATELY.) SHE THEN ASKED IF WE HAD VISUAL CONTACT WITH THE B747. I ANSWERED YES AS I HAD SEEN THE ACFT BEFORE SHE ASKED US. HE WAS (IN MY OPINION) AT LEAST 1500-2000 FT BELOW US AND 2-3 MI DISTANT. AFTER HE PASSED US THE CTLR THEN GAVE US A R TURN TO 270 DEGS TO INTERCEPT THE CLM R-249. WE NEVER GOT ANY INDICATION FROM TCASII THAT THERE WAS A CONFLICT. I BELIEVE THE B747 WAS AN ACFT THAT DEPARTED THE SAME RWY IMMEDIATELY AHEAD OF US ON THE SAME SID AND TRANSITION. I AM OF THE OPINION THAT BECAUSE THE TURN AT D6.5 OL TO INTERCEPT THE CLM R-249 IS SO TIGHT THAT HE OVERSHOT THE RADIAL AND THEN WENT THROUGH IT COMING BACK TO REINTERCEPT IT PLACING HIM N OF THE RADIAL AND CLOSER TO US THEN HE NORMALLY WOULD HAVE BEEN. WHEN WE TURNED EARLY; IT REALLY COMPLICATED THINGS. TO ME; THE WORDING ON THE SID IS MISLEADING. I THINK THAT INSTEAD OF 'AT D2.5 OL TURN R; INTERCEPT OL R-086;' IT WOULD BE BETTER IF IT READ 'AT D2.5 OL; JOIN THE OL R-086;' ETC. I SAY THIS BECAUSE AT THAT TIME YOU ARE LITERALLY ON TOP OF THE RADIAL. I THINK THE WORDS 'TURN R' ARE WHAT FAKED OUT THE FO.