Watermark error

I noticed that previous versions of C1 didn't have any problems with watermarks (especially with png) and I could render millions of images out of it. Now I have upgraded to C1 6.2 and the result is not so good. Watermarks seams to be blurry Pls check the link and suggest something, otherwise I'll die dooing that in photoshop

https://picasaweb.google.com/lh/photo/V ... directlink