[curt.clifton]

Your shortcut isn't actually triggering OF. The behavior in Word is evidence of this, since you're just typing over the selected text there. I don't know about any "standard shortcuts", since I've been on OF since before clipping existed. You might try a different shortcut to see if you can avoid a conflict. I use Command-Shift-comma (i.e., Command-< on a US keyboard) for clipping without any trouble.