I am having this same "Caption overlay covering image border" problem and yes, I have Pro v2.0.2! I just downloaded it tonite, and the problem is still happening in that version!
I have my option set to: captionPosition="TOP"
Here's what I noticed:
1) When I am running the slideshow in IE from my _hard drive_, the caption is inside the frame, at the top of the image (which is where I want it to be).
2) When I run the slideshow in IE from my web server, the caption is overlaying the image border, not where I want it 'cuz it looks soooo lame.
3) When I am running the slideshow in Firefox from my _hard drive_, the caption is above the frame, which is OK, but my longer captions still end up overlaying the image border, which looks somewhat lame.
4) When I am running the slideshow in Firefox from my web server, the captions don't appear AT ALL! That's amazing -- that Firefox totally swallows the captions!
So, what's up with all these discrepancies, and what do you consider "fixed"??
Thanks very much,