HeathW, you're a lifesaver. All you have to do is click on the clip title to cycle through active clips, no hotkeys needed.
Devs, another Huge Thank You for travelling in time to give me the feature that I've just asked for. I think my editing just got way way easier.
I can't get it to work like that. At least, not in the 12.9 beta. Stacking clips in the playlist and clicking their title to switch between them, right? Doesn't do anything.