This may be a dumb question, but I can't seem to find the answer to this, so I must ask.

I bid on an item at eBay the traditional way and am currently the highest bidder. Shortly thereafter, I installed the Myibay sniper and set up a snipe on that item. If I am still the high bidder in the final seconds of the auction, will Myibay still try to snipe that auction, or will it match my user name with the high bidder's name, recognize that I am the high bidder, and thereby leave the auction alone?

Not a lot of money is at stake here, but 1) I don't want to pay more than I have to, and 2) I don't want to have to explain to the seller why I decided to outbid myself.

Welcome to our forums.

Myibay will increase your highest limit only, but will not increase your bid if there is no other bidders who bid higher.

You can't outbid yourself. Instead you can increase your maximum limit only.
So you can snipe with no problems.

That's how eBay works.

Great, glad to hear it. Thank you for responding so quickly!