You need to check out the server side watermark section of the Windchill Business Admin Guide: http://www.ptc.com/WCMS/files/79061/en/WCBusAdminGuide.pdf. Basically, you create the watermarks using a PV 9.0 Std installation, zip them up using wcexport and then upload them in Windchill using the Visualization Configuration Administrator. There is also a proterty in the wvs.properties that must be set correctly. It's all in the guide. We had problems in the past with watermarks showing up in the PV Lite client. They are now working with the latest PV Lite 9.1 M040. They always work well with 9.0 Std.
