I just went digging in the Abelton manual, and it seems what they’ve done is quite brilliant. No wonder why Ableton - to me - always felt like it “just works.” It helps my understanding to compare Ableton and OT thus.
Ableton manual, for session view clips, emphasis mine:
The Clip Fade switch, when enabled, applies a short fade to the clip start and end to avoid clicks at the clip edges. The length of the fade is signal-dependent and ranges from 0-4 milliseconds.
Ableton manual, for arrangement view clips:
Selecting a fade handle and pressing the Delete deletes the fade, unless the Create Fades on Clip Edges option is enabled in the Record/Warp/Launch Preferences. In this case, pressing Deletereturns the fade handle to a default length of 4 ms. With this option enabled, new clips in the Arrangement View will have these short “declicking“ fades by default.