How do I create a simple text watermark? To create a text watermark, go to "Customize" >> "Watermarks". This will open the "My watermarks" page a screenshot of which can be seen below. In the screenshot, you can see the page as it can be seen when a watermark has already been created - initially, there will be only the section headers and the accompanying text to be seen. After clicking the "Create New" link, you can create an arbitrary text watermark.
How do I create a custom image watermark? As you can see in the screenshot as well, the way to create an image watermark is by opening the desired source image ( which you have first uploaded ) and going to "Tools" >> "Use as" >> "New watermark".
What happens next? After you have any watermarks created, you can apply them using the Organizer.