Just went back to Splat & sure enough you can do it there too. Don't see it in X1, 2, or 3.
 
A better way would be to just double-click the clip name itself, making it edit-ready, then simply type the new name.

Given the location of the function and lack of documentation, it appears to be an incomplete implementation that was developed after X3 and before 2017-01. My guess is the dev was called away to work on something else and this code managed to sneak into production. I filed a report on it.

The rename option being available only during play was a bug - its been fixed for the next release.
Also I changed it so that for new users by default double click will open the clip inspector for audio clips rather than the loop construction view. (this is a preference in the track view options / click behavior)

thanks

By "fixed" I hope you mean it can now be done while stopped too....

Yes

Yay! Thanks Noel!

Nice one Noel

So - overall, what is the value of clip naming? Is this an OCD fix? - or does this naming extend to raw file naming for file storage? I never really felt a need to identify specific clips as I tent to bounce to clips quite often to condense file overhead.

Rbh
So - overall, what is the value of clip naming? Is this an OCD fix? - or does this naming extend to raw file naming for file storage? I never really felt a need to identify specific clips as I tent to bounce to clips quite often to condense file overhead.

I use the clip (re)naming when I produced a clip (audio or midi) outside of CbB after importing. Then I append the creation/update date to the clip name to know later on which version it is.