In case any of you were wondering about this decision of the developer to put the images in the themes images folder (which I can't understand), here is some explanation.
I love this plug-in, but I can't understand why they decided to make you have to put the images in the current themes images folder. The problem comes when you use a theme that doesn't use the term "images" to put the images in, they may use "img" or "imgs" or "graphics" or "lib" or "img_lib", etc. The developers of this plugin clearly didn't think about that. So to currently fix this you need to open up the wlcms-plugin.php file and replace /images/ with whatever your them uses for example /img/ then you can just put the direct logo name in the the logo fields (i.e. "mylogo.png" not the full path).
My feature request for the next update to this plugin would be to put in the direct path so you can put your graphics wherever you'd like. Thanks.