It doesn't tie to the foreground application - just tacks on to the area of the workspace (screen minus Start Menu bar)

You can drag it wherever you like though, and it will remember across launches

It uses a default color/font from the Appearance settings - caption font

I've noticed this is really ugly when the default caption font (white) is displayed against a desktop with the "clouds" image (when there are no windows maximized)

So I put in a feature where you can pick whatever color you want - give the app the focus and hit the "C" key to pull up a color picker