It's more of a 'notice' than an error message.
The appearance of the Office clipboard icon in the system tray
is controlled by the settings under the [Options] button
in the Clipboard taskpane.
http://office.microsoft.com/en-us/assistance/HP052548921033.aspx
The 'not collected' message happens in several instances including
1. If you're doing a lot of graphics and you're running
short of available RAM to store the graphics or
2. You have something on the clipboard that Word (or other Office
app) doesn't know how to handle as an item the document can use.
3. Something on the computer has focus so that the Office clipboard
is not available at the moment.
===========
Can't copy to clipboard getting error "Item Not Collected"
There is also a red circle with an x in it over the clipboard in the systray.
Has anyone seen and fixed this? Also why doesn't Microsoft have anything
about this error message? They wrote it they should tell me what it means!!>>
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Let us know if this helped you,
Bob Buckland ?

MS Office System Products MVP
*Courtesy is not expensive and can pay big dividends*
For Everyday MS Office tips to "use right away" -
http://microsoft.com/events/series/administrativetipsandtricks.mspx