You mentioned BETA so in case anyone is reading this, I thought it a good idea to mention NOT to put BETA on a live site. I thought you went from 2.7 upgrading to 2.8 and then went back to 2.7. My bad, I misunderstood you.
So, with that, I am assuming you have upgraded from 2.6 to 2.7.
You also mention installing some kind of JW player. JW player comes with vShare. Try putting in the default one that comes with vShare. If the watermark shows up then you know it's something to do with your installation of the other player. I would contact the support/help files for that player or maybe the version of the player you're trying to use is not compatible with vshare 2.7.
I'm not sure what all you've tried so far so here's what I know. Not sure if this will help or not but thought I'd mention it:
The templates from 2.6 are not compatible with 2.7.
I would re-upload all the files from a fresh download of the full version of 2.7 after upgrading. Doesn't hurt to do this. Any time my site goes a little wonky, I find that re-uploading fixes stuff.
Here's what I did...I installed 2.7 in a test area. I worked on the templates. Then, on my live site, I did the upgrade from 2.6 to 2.7 and then uploaded the templates I worked on previously. When I did this, I had no problems with the watermark.gif showing up and all my videos and users was in tact.
See if re-uploading a full version of 2.7 over your existing files fixes the issue.
For the image location of your logo or site banner, that's in the CSS. The path to the logo file probably needs to be change there. In effect, you're making the CSS match the image location rather than making the image location match the CSS (by uploading a copy of the image to another directory). I have never been able to get the "upload logo" and "upload watermark.gif" thing in the admin panel to ever work in any version in vShare, I just do that via FTP. It's probably a permissions issue.
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