Hi Sheridan, as you have probably noticed I am the one who responds to most of the pre-sales threads. I spend time in and out of the forums throughout the day/night, so if you happen to post when I'm online then I can respond right away, but if not, there will be a delay. We aim to respond to all threads within 24 hours, although it is often much sooner than this. Please don't take it personally that you had to wait 3 hours for a response.
As for your questions, there is no newsletter built into Clipper, the theme has a widget you can use for email subscriptions, however you'd actually have to sign up to an email marketing service/program such as aweber in order to make use of this. The functionality itself depends on that service you sign up for as it's not managed within the theme.
You don't "have" to create a child theme if you're making modifications to the theme, however we strongly recommend it because when you do update the theme version, all the files are overwritten. Having a child theme saves you from having to re-do everything from scratch. You can read more about customizing our themes
here. Thanks.