"Since joining Google in 2010, we have been creating editing magic in Google products while continuing to keep Picnik awesome. But now we get to focus on even awesomer things. Picnik will be closing on April 19, 2012."
NOOOOOOOOOOOOOOOOOOOOOOOOOOO! This will be the end of any future high quality compressed signatures and avatars for me. Unless there is some other means to do it without ruining the quality of the images.