I just paid for 5 snipes and I was wondering how I can use those 5 snipes? I don't see any option to reduce snipe time from 10 seconds on any of the watched items.

Hello,
Check the "Add Snipe" dialog. The new set of "delay" (lead time) options appear under the "snipe time" pull-down.
Good luck sniping! Please let us know if we can help further.

I am afraid the "lead time" dialog still shows "10 seconds" as the maximum time and other options for less time are grayed out.