Windows 7 keeps separate setting and variable information for each user. Fusion runs as Administrator and the SpeedSix License Manager must be run as Administrator. To do this:

• Right-click over Start->Programs->SpeedSix->License Admin.
• Select Run as Administrator.
• Check your license now with Check Local Licenses for example.
• Do not forget to turn off Use Dongle if necessary.
• Exit and run Fusion.
• Load a plug in. The watermarks should have disappeared.