Clipup.exe /? doesn't seem to do anything, but it does show help when no parameters are used.
clipup Usage:
-?/-h This help menu
-p Attempts to migrate data from the legacy Windows Phone database
-o Attempts to migrate data from Windows Genuine Authorization blob
-altto [path] Optional alternative Windows Genuine Authorization blob folder location
-d Generate a genuine ticket for the BIOS key
-k [5X5 product key] Windows 7/8/Blue product key
-pfm [package family name] Optional package family name to look for a migratable license
-l [path] Optional folder of legacy Windows Store licenses
-v Enables optional verbose logging [path] Optional alternative output location for migrated data Done.
Nothing would happen when you run that file without the above mentioned parameters. I tested it.