I have never heard that Adobe applications watermark files unless the user does it by purpose. How does it look if you view the files outside the Adobe enviroment, let´s say in VLC player?
Can you post a screen shot of this?
Thanks for your reply. This is what it looks like on black. I too have never heard of this and can't find any guidance online. If you play it within Premiere the watermark drifts around, disappearing off the screen and reappearing on the other side. I you render or export it, it is present on the rendered output. So far, I have uninstalled Premiere, Media Encoder and After Effects and then reinstalled them, but this didn't fix the issue. The source files play fine in VLC and in Quicktime.
In case anybody else runs into this problem, it was resolved by Adobe support remoting in to my computer and fixing all the permissions in the Adobe folders.