The value of the picture watermark is evaluated against the designer context and will be shown if possible.The Word Rendering Extension of Telerik Reporting produces Open XML Word documents.
URL actions of Text Box items are rendered as hyperlinks, as soon as they represent absolute URLs.
The value of the text watermarks is not evaluated and it is shown 'as-is' in the designer.
Note that the position of the watermark in design-time is calculated based on the report size in designer and might differ from the watermark you will see in the previewed report.
One of the frequent feature requests for Reporting Services was to add the ability to reset page numbers within the report, e.g. Reporting Services 2008 R2 adds this capability through a more general feature to name pages, and define dynamic page breaks and optionally reset page numbers.
The screenshot below shows the result of a slightly modified Product Catalog sample report with overall page numbers, as well as page numbers per product category grouping.