This is a bug with Clippings Manager which will be fixed in an upcoming maintenance release. For now, use Backspace instead. If you accidentally delete a clipping or folder, click Undo to bring it back.
All those permissions are needed for Clippings to function. Go to the following page to learn more about the meaning of those permissions, and why they are needed: http://aecreations.sourceforge.net/clippings/permissions.php