hi DCNY, thanks.
well, i use photoshop for that and it is pretty simple if you have the right tools.
i have an action called "WOW - Button Emboss/Bevel" loaded into my actions in photoshop. i got it from a photoshop filters and other goodies demo cd.
i simply ran the action on my "multimadrid" text layer while designing it to produce a separate level (bevel layer) in it. the resultimg layer is automatically named "Edges" (the bevel) for your watermark. since you can adjust it's transparency (alpha channel) called "Opacity" in photoshop easily, you can make it 50% transparent and hence the result i get on my photos.
when you run the action on a text layer, make the layer a color that is not balck nor white and during the action application, you can blur the text for a softer effect with the "Gaussian Blur" step (you will see it when you run the actiuon). the following step is selecting the bevel height and shaddow angle. do not worry about errors that appear as the action runs, just continue with it till the end.
makes for a great copyright and keeps the image visible at the same time.
i added the end result to this photo album, have a look and you will see it at the bottom (
HERE)
i have e-mailed you the original vector (layered) file in photoshop format (.psd) so you can see how it works.
let me know if you have any questions or if you want me to send you the action that i used to you can load it into photoshop on your computer.
saludos,
jer...