I know that I can paste a picture into a Milestones schedule. Can I make a watermark and paste it?
Yes. Here is how:
Copy any picture.
Paste it into PowerPoint.
Right-click the image.
Choose Format Picture.
Under Image Control and Color, choose Watermark.
Right-click the image again, and choose Copy.
In Milestones, choose Edit | Paste Picture.
Move the cursor to the schedule area and click to place the image.
Re-size the image by holding Shift and grabbing the image's corner.