Here is a quick list of features you might be interested in:

Send window clippings to OneNote section of your choice
Copy window clippings to the Clipboard
Send window clippings to a history folder on disk
Specify background color for non-transparent images
Support for BMP, JPEG and PNG formats.
PNG and images sent to OneNote provide transparency
Support for multiple-monitor configurations

Other release notes:

Works on all editions of Windows XP (Home, Pro, Tablet, MCE) and Window Server 2003, including x64 editions.
Written completely in native code so nothing but the EXE is required.
Support for Windows 2000 may be provided based on demand.
All display monitors must be configured for 32-bit color quality to create window clippings. This does imply that, although Window Clippings runs in a Terminal Services session, you will not be able to create a window clipping since Terminal Services does not support 32-bit color. Support for lower color displays is being considered for a future release.

link: Window Clippings 1.0

Author: Kenny Kerr