Index: modules/imagecache/imagecache.module
===================================================================
--- modules/imagecache/imagecache.module	(revision 87)
+++ modules/imagecache/imagecache.module	(working copy)
@@ -685,7 +685,7 @@
           '#type' => 'textfield',
           '#title' => t('Watermark image'),
           '#default_value' => $action['data']['watermark'],
-          '#description' => t('Enter the filename and path inside the files folder you wish to use as your watermark.'),
+          '#description' => t('Enter the path and filename inside the <em>files</em> folder you wish to use as your watermark.'),
         );
         $form[$actionid]['data']['xoffset'] = array(
           '#type' => 'textfield',