Alternatively, if you have installed iClip from the Mac App Store, you can join with TestFlight, which will automatically install new beta versions of iClip, just like it works with the regular App Store.

To use TestFlight instead of installing the above Download, click here.

And don't worry about the warning in TestFlight that replacing your iClip app with the test version might cause you to lose your data. That's utter nonsense and there's no risk of that happening by installing this beta via TestFlight. At worst, you may have to remove iClip from the Security settings in the System Settings app, and then add it again, and restart iClip, so that Copy & Paste with the arrows and with hot keys works again.