Not sure how similiar they are, but in LR3 I watermark when exporting them. There is a dialog that pops up and you can change all kinds of output settings (sharpening, destinations, watermark, file names, etc etc).
Can you explain how to do this a little more? i see the check mark in LR2 but when I export, nothing appears on the picture. What else needs to be done?
Well like I mentioned, there is a pull down menu. You have to go in there and create your watermark. After you do that, it will put that very same one on the photo whenever you check that box. You can also create various types and pick/choose with every export.
Ok I thought I had it figured out. I got the little menu to show up when I tried to export it as a slideshow. I thought it would work, but I've got a grey frame around it now which sucks.