Finally, we've arrived at a time when you don't have to be disappointed, John! You most certainly can make clipping paths out of compound shapes (v. compound paths). You can make the old style (command-7) clipping paths as well as the new layer clipping masks with compound shapes.
First, let's be precise with language (you know how important vocabulary is). Do you mean you can't make compound shape clipping paths, or do you mean you can't use the newer Draw Inside convention with compound shapes to produce clipping paths? You can't do the latter. Of course, the latter is only a shortcut to the former. But as of now, it can't be applied when compound shapes are involved.
So let me modify my first statement: If you want to Draw Inside compound shapes, you can continue to be disappointed. But then, the title of your request isn't as clear as you'd want it to be, right?
Or maybe I'm misunderstanding….
