[palosanto]

If I run the snip tool and paste, there is no way to change where the snipping ends up. As far as I can tell, the snipping is pasted permanently as undo does not work and select will not work to pick the snipped area.

To paste you need to long press on the location you want it. Then you can edit it like any other annotation.  It works for me in my Samsung note pro running Android 5.1.1
However, I cannot edit it on my Max Lumi e-ink tablet. It doesn't let me select it or undo ...