When using the perk, if you fire at a target that you will kill and dodge right after the shot the perk won't trigger and it will put the sniper shot on a cooldown. Very noticeable when using Perfectly Timed Attacks (perk).

Edit: The perk does not work at all in co-op. But then again ranged seems to be bugged, see this.

Edit2: It seems to be inconsistent, sometimes it triggers when you dodge and sometimes it doesn't.