A: Yes. You can make the settings as usual, click menu "Tools > Apply Multiple Effects" to apply.
A: The image may has a corrupted color profile which make our program cannot read the image. You can open your image with PhotoShop or other images editor software. And save the copy without using its "Color Profile". This can get rid of the corrupted color profile.
A: You can adjust the margin for the watermark. By adjusting the margin, you can place the watermark to any place you want.