It'd be nice to have a global clip indicator that appears when any of the monitored points (or at least the outputs) clips.
This need only appear in the play (not edit) mode. It seems that there's enough space in all four play-mode screen that an clip icon could be flashed in the upper-right corner of the LCD. Alternatively, one of the lighted pushbuttons (I'd suggest the Edit/Back button, since it'll be normally orange in play mode) could flash red upon clip.
I wouldn't bother with latching the clip indicator. It'd be enough to have it flash for a half-second or so upon clip detection.