"How is rank handled on a SEAL team? I was reading an article a while back and if I remember correctly the team was comprised of NCOs, SNCOs and one or two Officers, yet the team leader was a SNCO. Does this sound correct?"
I am not a SEAL but this comes from direct and indirect information.
I think you are confusing a SEAL Team with a SEAL platoon, a common mistake. A SEAL "Team" is a command headed by an 05, just like a Navy ship. The command is about 130 people and is equal in status to an Army battalion. A Team reports to a Group Commander. The SEAL Team's operational elements are SEAL platoons, generally composed of 2 (03 and a junior) officers and 14 enlisted. The senior enlisted is usually an E7. All the others are less but usually E3 or above. There have been times where a CWO has been in a platoon as the junior officer and sometimes the senior officer. The platoons can be divided into squads (8 people) and even fire teams (4 people) if the mission warrents, a sniper team could be as small as 2 people.
Responsibilities follow rank.
I hope this helps.