If you press the 'Stop Sign' button in CVI 7.0 you and temporarily halt your program.
Access the 'Watch Window' and highlight each entry and press DELETE. When the window is free of anything to 'Watch' it will stop showing up on top of everything else.
Also if you 'Right-Click' on the Watch window and select "CONFINE WINDOW" it will move and only display underneath the source window.
PS... Press the GO button to start your program running again from where it left off