This is a pretty cool card, I think, with a few notable synergies and applications.
Probably the most notable part is that Snipe can cancel an . That is very worthwhile if you're going all in on a test, which is very likely with, for example, a Shotgun or Sawed-Off Shotgun. Or anything else with limited ammo but a big payoff.
Outside of mitigation, it is greatly increasing your odds of drawing a 0, but I don't know if you want to spend two actions to fight when you still have something like a -4 failing your test, much less a -2. However, with the help of some cards, you can play with the odds even more with stuff like Recall the Future and Olive McBride. The fact that you actually treat the tokens as a "0" is particularly spicy with Recall and Olive.
It also has a particularly nice synergy with the taboo .35 Winchester, as "0" tokens have a non-negative modifier. Considering that this play style already wants you to be running bag control, this might be the most interesting place for it. It's unfortunately out of reach for Jim Culver, but perhaps Sister Mary or even Jenny Barnes might want to play with this.
As a final note, Chuck Fergus can make it fast, thus mitigating the main drawback.