magento-hackathon/Perfect_Watermarks — pull request #3 by colinmollenhour (2013-02-11 21:11:09+00:00)
Title: Fix resize (supports keepFrame and bicubic interpolation)

I believe this fixes all of the issues I had previously with keepFrame. Also the way it composites the image over a solid background color should be much faster that the nested loop that you were using before. Note I haven't tested it with backgroundColor as on my system everything is just white.