Clamp 0 1 Colour restricts values in the component channels red, green, blue, to a minimum of 0 and a maximum of 1.
Using a colour source that has values between -2 to 2 in each channel to vector displace a flat surface...
...a Clamp 0 1 Colour will remove any colour below 0 leaving it 0, and any value above 1 becoming 1.
If there's any errors, omissions or questions about the above, please leave a comment and we will add further details in this post when relevant.
https://planetside.co.uk/wiki/index.php?title=Clamp_0_1_Colour