I've been working with the trial version to se if I like the product. I finished my work and realized the final is marked by "created with the free version".
So I bought the product because I enjoyed using it. Otherwise it still apply me "created with the free version" on my old project.
When you output a new version of your trial project, the watermark should go away. If not, try using the "Delete Rendered Files" option in the Timeline menu. That should force Premiere Elements to recreate the previews used in live editing. In an extreme case, you could try deleting the preview files through the operating system. Do not deltete the project file or the source media.
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