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Hello,
Let me add my thoughts on this one Please: more or less we are in the same shoes. My colleagues are working with BBO content not Program3. We drive usual traffic to them as well [~10-25%] but main part is watermark traffic. Our payments arrive on time [making ~2k/month w BBO...], but making an agreement with BBO [getting green lights] is a real challenge. Actually BBO is the only big sponsor that has problems with this method. I do understand the suspicious approach, over-watermarking should be done by reliable people only [webmasters with a clean reputation/past] but it should not be a problem.
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