I wasn't able to reproduce the exception, neither in the demos application or in a new project. However, it seems that the clipboard allows only a single process to work with it. So, if for some reason another process uses the clipboard while you try to cut the text, the exception will occur. You can restart your machine and then try to cut the text, and see if the issue still occurs. If this is your case you can catch the exception and show a message that says the clipboard is in use.
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Seems 1 of my 100s of tools might have been the cause. I do however think that it might be one of those cases where it would be best to just handle the exception internally rather than propagating it to the consumer. It is after all an external issue that's causing it. Last thing we need is a bug in some other application causing breaks on our software.