marioestrada/jQuery-Watermark — pull request #3 by whut (2011-10-21 12:49:11+00:00)
Title: Added fix for using watermark inside some element with display:none

For example when using watermark on text input that is inside div with display:none, watermark will be shown too high, because at the moment of calculating style for watermark, input height was 0, but outerHeight was 4.

jquery.watermark.min.js should also be updated, but I don't know what minifier you use.