While it’s not quite the same, you can still do most of these things in Squash 4.
It’s also more intuitive to pick a position, just click on the thumbnail preview! We also support opacity, inset, and opacity for the watermark like the original.
So the only thing missing is “Tile” and “Diagonal”. Everything else is supported as far as I can tell.
What feature do you specifically need to match what you were doing before?
I know the old builds had it, but why do you need to toggle them on and off? Is that something you do a lot and if so, why?
I don’t know of any other graphics program that works this way. Just trying to understand why we need this UI change 
I don’t mean to drive you nuts here, Dan 
It may just be a personal thing: Squash carries over the settings from a previous session. If I want to use some of the ‘active’ features and not the others, or turn another one or two on, it is faster/easier to toggle. It also allows me to quickly see if I like what that feature did (after tweaking its settings) and if I don’t like it, just ‘oh well, not today’ turn it off. You can’t please us all. Maybe rather than changing the whole interface, as you suggested, a right-click on/off would do the trick if I am in the vast minority for something like this.
Haha, don’t worry about it. I’m looking into a solution now!
@dan No problem, leave the Watermark as it is now or just make some minor updates. Since AI can remove people, objects and watermarks, it’s probably a waste of time to use watermarks on every photo in Elements. If I need Tile (for Facebook), I can use version 3.
Okay, so is it just the tile feature you need?