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All in the title.

Count the men on the cover. That will tell you exactly how many are in a box.

Or, you could just go to the games workshop site:

http://www.games-workshop.com/gws/catalog/productDetail.jsp?catId=cat440176a&prodId=prod1060078&rootCatGameStyle=

Read the part where it says "This box contains ..."

...Let me rephrase. Does the box come with 5 SNIPER BITS to make all the models snipers or is this box like the loota box only coming with 4 lootas and 1 mek (or in this case 4 sniper bits and one missile launcher bit)

Yes, just an option for a missile launcher.

It does come with all the bits to make five snipers. Plus the extra bits for a missle launcher torso, although it does not have the extra set of legs needed for said torso.