The domain name I want is currently in a 3 day auction at Snapnames. ( I assume they drop-catched it). I'm confused...does that mean there are backorders on it, or does Snapnames normally put it right into auction? They just acquired the expired domain yesterday (May 8th). It says there are no bids. The auction ends May 11th. What happens if no one bids on the domain? (I'd rather not shell out $60 if I don't have to). Should I backorder on GoDaddy, or will Snapnames release it to the public? The whois shows Snapnames (Oregonnames) has the domain until it expires next year. Is is possible they will hold onto it or try to re-auction it? Lots of questions...I appreciate any input.

You must have gotten your answer by now as the auction is over. There are more or less two options when no one is bidding. They keep the domain as there is enough traffic or they drop it again. If they drop it maybe some other service catches them and monitors the traffic. GoDaddy is a bad idea, they almost never catch a domain.
If you really want the domain it's worth spending the $60.