Version 1.2, 1994
Normally you won't see clips reported. Clips occur when your mix has samples out of range. Unfortunately, all you will see is the number of samples out of range, not how far out of range they may be.
Use a large report time: the smaller your report time is the more cpu this program will eat up. With a report time of one second or more it's pretty efficient -- you can just leave it running in the background. With the meter turned off, peak info will still be reported to the control window. This gives you some useful info without eating up too much cpu time.
Get NeXT_Meter.tar.gz(45K)
Get Meter.src.tar.gz(22k)
Unpacking an App