Clear current effects

There's no way that I could see to "clear" things like the frame that's applied, or the effect that's applied.

General comments:

Also, the standard icon used for "undo" is misused in the software as "check for updates"

The sample graphical watermarks are just some silly clipart library, nothing to do with watermarks. It should be real sample waterrmarks or elements someone might actually use with a text watermark.