Link Watermark to custom property

[kerend]

Hello All,

I am looking for a way to link a watermark's text to a custom property.

The motivation is:
I am using a data-management software for document control; each DOC file has custom properties that are updated by this system. I have a special property that describes the file's status ("under Editing" / "Released" / etc...). So when the system changes the file's property, I want it to be automatically reflected in the watermark.
I hope this is clear..

Does anyone have any idea?
Thanks
Keren