I have to say I was never enthusiastic about the thought of watermarking but that is just one of the realities we had to face up to in light of scans just being ripped off the site and used in other games sites. We've been discussing watermarking for several years now and it isn't a decision that was taken lightly.
Exotica watermarking won't really stop people stealing your scans because it is very easy to remove that sort of watermark through some batch/scripted process.
Can I just re-emphasise what Cody has already said - that if you are working on a project that is of merit and need unwatermarked screenshots then contact one of us. We may be able to provide the scan at a higher resolution too depending on what it is.