In his post, DrDre writes that Keyboard Maestro has no "very quick ways of creating new snippets from selected text or the clipboard."
As the macro Brevis shows, that isn't true. It includes just such an option. And Brevis relies on some code long ago posted by Peter Lewis to turn selected text into a shortcut.
Which only proves (once again) there's so much to Keyboard Maestro that it's easy to miss a few of its virtues.