Do I understand this correct?

[blackcrystal22]

I think your just reading too fast

Let's break down the bolded part:
Hypo x Clown het hypo

All animals from that breeding are either hypo or het hypo, and all are het for clown.

If he were to breed one of those hypos back to the parent Clown het hypo...

Hypo het clown x Clown het Hypo

YES, he could get Hypo Clowns.

Hypo Het. Clown X Clown Het. Hypo
=
Hypo Clowns

What about...
Hypo Het. Clown X Hypo Het. Clown
Or
Clown Het. Hypo X Clown Het. Hypo

?