The new 4.0 agreement has language about watermarking, but no details.
The license page seems to suggest the watermarks appear on the targets, but I don't see anything like that on the various test images (stones, chips, etc).
Can someone detail exactly what these watermarks are like, and where they appear?
The watermark appears in the lower-left corner of the camera feed. You can see it in action if you run one of the 4.0.11 sample apps on your device.
https://developer-beta.vuforia.com/downloads/samples