When you copy and paste a text object the text properties such as font, color, alignment transfer to the copy. However when you clone a text object, they do not. It appears that Clone Object Type for a text object is the same as insert new object except for the object name being derived from the cloned object. (EDIT: It will clone the instance variables and behaviors attached to the original. Just not the text properties.)
To see the issue:
1) Create a text object.
2) Change the text, font size and/or color.
3) Right click on the text object and choose the Clone Object Type item from the context menu.
4) Click to place the cloned object. The text properties do not transfer.
In contrast, this works well:
1) Copy the text object created in step 1 above.
4) Paste and then click to place. The text properties in the new instance are the same as in the copied instance.
This is a relatively low priority since there is a workaround, but it is tedious when you have a lot of text objects you want to have the same formatting which you must perform over and over.
EDIT: Also, I've seen the same issue when you have created a sprite, made some changes to size and opacity, and then try to clone it. The changes you made don't transfer to the clone. For example, I created a rectangle sprite that I faded and changed opacity to use for image buttons, but when I tried to clone them I ended up having to resize and change the opacity again.