I just ran into this problem elsewhere and I gave a try to see.
ESRI has changed it a bit...
When you set the snapping environment for your layers, but didn`t enable the visibility of the buffwer/tolerance, you might think there`s no snapping, because it doesn`t work as you might think (and in ArcMap). If you enable the visibility for snapping buffer, you will see black areas around your features (depending on their geometry). If you click inside the black area, your points/vertexes will be snapped.
However, the classic snapping is working, when you edit existing features... strange..
Anyone?