@aus Digital Media, No. From the options you can choose to have a backup of the original images, before you upload them.
If you don’t have it, you have to re-upload the original images.
In other words, delete the images of that gallery selecting them all from “manage galleries” and then upload the original images again so a new set of thumbnails will be created.
@aus Digital Media – Yes, @tizz is correct (thanks!). The only way to remove a watermark from an image is to recover from backup under the bulk actions for the gallery … or remove and re-upload the gallery images.
You may need to clear all caches especially under Gallery > Other Options > Miscellaneous to see these effects immediately.
– Cais.