Here's the difference:
".45 Long Colt" is just a popular term for the .45 Colt cartridge. One may be more technically and historically correct, but they are both always used to refer to the same thing.
However, a "magazine" and a "clip" are two different things. They are not the same. "Clip" is often used incorrectly to mean "magazine", and you can often figure out what it means in context, but not always. For example: If someone says they need a "clip" for an SKS, do they mean a stripper clip for the original version or a magazine for a modified one? If someone asks for clips for an M4 do they mean magazines or do they mean the stripper clips military ammo comes on?
Saying ".45 Long Colt" doesn't result in confusion as to what you're referring to, whereas saying "clip" to mean "magazine" often does because a "clip" is something different.
0331: "Accuracy by volume."