That doesn't work for me because I watermark my whole document and put text over it.
Using this fix you cover up the watermark when putting in the text.
Pam,
Watermarks are always "washed out" images or text boxes that display underneath the text, no matter if you create them using Word's Watermark facility or if you fake it by adding the object yourself and manually adjusting its settings.
What you can do is put the object so that it displays in the page margin, if it is important that you can see it as a whole.
The example below shows a text box with the word "DRAFT"; it is anchored to the header paragraph and moved so that it appears in the right margin, and not in the text.
