Originally Posted by SilentKnight

Obviously I can't speak for other affiliate program owners, but as a former affiliate program owner, we seldom monitored what our original promo content was used for. And the few times I'd google search the stuff, 99% of the time the content had our backlinks in place and was driving us traffic.

Provide backlinks and don't chop off watermarks and you should be fine...as long as you don't put the affiliate content alongside questionable or illegal content - or cast it in a negative/derrogatory way.