Hello David,
Thank you for your question about your snipe. You can change a bid, or delete it, all the way up to the moment the snipe is placed. You can see a complete log of the lifetime of the snipe by clicking the log icon next to the Completed item.
It rejected the 119 bid and gave an error, because at that time the price was 126.66. The software doesn't let you change the bid to a losing value. You have to just delete it.
We used to do screen recordings, but stopped doing it because people were not comfortable with it.
I hope this has been explained to your satisfaction. Thank you for writing and please let me know if you have any other questions.
bidslammer