[Plugin: NextGEN Gallery] Watermark not showing up

Hi,
I have added a .png image watermark (It has my logo and my company name with a transparent background) in my gallery dashboard under watermarks. I went into “manage gallery”, chose a gallery and activated the watermark in the drop down menu but it is not showing up on the image. Is there something I missed?

http://wordpress.org/extend/plugins/nextgen-gallery/