My take:
Visual inspection of the clearing time is greatly increased in accuracy by putting a drop of fixer on the emulsion as described above and waiting for 30 seconds before fixing the rest of the film. The spot formed by the drop will "disappear" when clearing is complete.
In order for a clip test like this to be relevant, it should have the same conditions as the actual fixing of film. That means a pre-soak and similar agitation.
A bit of film will not exhaust the fixer, but a large quantity will, which means that the actual clearing time when fixing a roll or several sheets of film in a given amount of fixer will be a bit longer than your clip test.
Anchell and Troop recommend 3x the clearing time, due to the fact that silver iodide compounds in modern films fix more slowly than the more common bromides and chlorides. I'm not sure if this is true, but it can't hurt.
Haist, Gudzinowicz and others recommend two-bath fixing for optimum permanence of film and to increase capacity, and a minimum of 2x of the clearing time total. Gudzinowicz points out that film is not hard to wash and that extra fixing up to a point will do no harm. He recommends 2x the clearing time in both baths for a total of 4x.
I tend to do the latter. I toss the first fix when the clearing time reaches 2x that in fresh fixer. This, in my estimation, is the real advantage of doing the clip test, i.e., knowing when the fixer is exhausted.
Fixing longer than just 2x the clearing time by a bit to be on the safe side is certainly a good practice in my opinion. If you fix batches or rolls of film successively in the same fixer, you need to do a clip test before each batch/roll to see how the fixer is doing and to make sure your fixing time for the fixer at that level of exhaustion is adequate. As mentioned above, I end up with 4x clearing time.
Doing residual silver tests on your film after you have decided on a regime is the only reliable way to see if your particular processing method is working. Test several times toward the end of the fixer's life to find where the effective cut-off point is for you and keep track of the clip test clearing times as well. This exhaustion point can then be correlated to the clip test clearing time (maybe you need to toss the fix before 2x the time in fresh fix is reached). Once established, you can fix film confidently with just the clip test for a guide.
Best,
Doremus