The red exclamation mark means the game was not able to find the nif at all. Probably this means you have made a spelling error when entering the nif filename. Or possibly, the game was able to open the nif but one of its components, such as a texture, was missing.
For creatures and characters, there is an animation skeleton underneath, and you can only use nifs with compatible skeletons. I guess what you are discussing is a rifle, so skeletons may not matter. You may wish to contact the author of the nif you want, and ask them if some special steps are needed to use it.
Ok I've managed to get it in game (you were right it was missing a texture

) but it just appears as an ordinary sniper?
Edit:
I got it working! Turns out I just needed to change the world and first person models

Thanks you've been really helpful!