i have dabbled in both envelope following clipping and envelope inverting clipping, they are both semi-nice.
the envelope inverting clipping gets really fuzzy and fat and lifeless on the attack and gets more open on the decay, that makes for no/bad attack and not much sustain, and the volume gets quite jumpy, like a bad sounding slow gear. also, when the envelope is to large, both transistors go fully open, create a short circuit and die, so protect them well.
envelope following clipping is less cool, it just retains some dynamics while distorting, which is less cool and or useful, since volume compression is one of the most useful features of overdrive/distortion. there are also some other ways to get the effect without having to finnick and/or fight to get the envelope follower to work, like the half wave precision rectifier i posted in another of your threads.
cheers, Iain