I would like to submit a website address in an extra field and then have it show up as an automatic screenshot..... Is this possible?

No, I'm afraid not. You will have to provide the screenshot somewhere.

there are some plugins which do it automatically in the weblinks component which store the images in a folder, so I am wondering if there was a way of using another plugin or the way it works and transporting it into k2 code??????

this is the link to a normal module which does it.... Its a matter of connecting them?

extensions.joomla.org/extensions/directory-a-documentation/weblinks/13256?qh=YToyOntpOjA7czo4OiJ3ZWJsaW5rcyI7aToxO3M6Nzoid2VibGluayI7fQ%3D%3D

With the shrink the web component I need the below line of code inserted to get the preview.

{stwpreview url="www.jv-extensions.com"}

Is it possible if the extra field is a text field and the code inputted into is exactly the same as above?.

or would I need to adjust the code of item.php to include the specific tag? -

Any clues?

I think if you use it in an extrafield it would work.