The clip on the pencil is fairly strong, but not overly so. It's easy to operate and also keeps the pencil secure wherever you clip it. The clip doesn't need to be that strong since the pencil is lightweight.
Even though the pencil is lightweight, it's still weighted in the right places — namely toward the grip and cone. This low center of gravity means the pencil is easier to control when making precise marks.
I have no idea if this is correct, but I'm guessing that the namesake of the pencil comes from the fun rubber piece that covers the lead advance button. This accordion-like rubber material is so much fun to mash down over and over again. I'm not sure if it offers and real functional benefit, but it sure is fun to play with. Underneath the cap / click button, you'll find an obligatory emergency eraser that tops off the lead refill tube. Pretty standard stuff for a mechanical pencil.