Dot pocket uses a common clip board between the PC and the PPC. What ever I cut or coppy on the pc or the ppc is sent to the other. This works good. Prior to DotPocket I used OPClip at
http://www.opbyte.it/opclip/ which is close to what you are trying to do. It has a desk top utility. It works ok. It has hot keys that work. There is a link on the site for a Pen Commander macro that speeds things up on the PPC. So, you may not have to reinvent the wheel.