One of the most common reasons for the watermark to show is that the broadcastkey has been placed directly into the embed/object tag e.g
BroadcastKeyFileURL="d849abc33753a12e1c46d2636f16f32d3fb06ca3-4156-www.myurl.com">
and
This is incorrect. You must place the key into a text file, then reference that text file.
Your text file should look like this:
[BroadcastKeys]
BroadcastKey = d849abc33753a12e1c46d2636f16f32d3fb06ca3-4156-www.myurl.com
Save the file as BroadcastKey.txt. Please create a reference to this file in your embed/object tag. The reference should look like:
1. A relative reference to the file (relative to the html page):
BroadcastKeyFileURL="BroadcastKey.txt">
or
2. An absolute reference e.g.
BroadcastKeyFileURL="http://someurl/somefolder/BroadcastKey.txt">