Flip4Mac is a free codec to WATCH videos. As SHAREWARE it also will save/convert with a small fee as stated on Flip4Mac's info page. The watermark comes a result of trying to use the free codec to do WMV Sudio's job with paying Flip4Mac the fee.
Microsoft charges Flip4Mac the privilege to watch/save/convert for sellign such a product. Not everything is free so pony up the money for the privilege of using Microsoft's GREAT proprietary video codec. 
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PowerMac G5 Dual 1.8(Rev A.), , 7 Gig RAM, Pioneer DVR-110, ATI X800XT, OS X 10.4.11 & 10.5.5, 23'' HD LCD
Mac Book Pro Core 2 Duo 2.16Mhz, SuperDrive, ATI X1600, 2GB RAM, OS X 10.5.5
1TB Time Capsule
5g iPod 30Gig White |