hi,
i used a similair set up to make this little visual music piece:
http://stateofnothing.com/phase_trans_3/
(beware big files i didn't optimize for online viewing)
i triggered the sounds with midi in Live on my laptop while also using live to trigger Modul8 v2. mainly what was being controlled in M8 was video scratching and opacity tweaking by sending CC messages from Live to M8 and also some note on off for switchin clips around. Live was also making the sounds with MIDI and synths (mainly Operator)
Works quite well just map your M8 midi params after you have Live connected via midi and it should be pretty straight forward. I did find it useful to make sure i had a good midi signal on my M8 machine using another app beisdes M8, one that let's you monitor and set MIDI input. In my case I used another copy of Ableton Live and once i was sure i was getting midi in i quit live on the video machine and opened up M8 and then mapped the params..
One nice option may be to use Live to trigger midi loops and apply the random midi filters for note and velocity thus creating a very musical random clip selector/fader that is synced to you clock and thus music.
as far as the clock goes i would just use Live to trigger M8 and M8 doens't need to know about the clock or tempo, it just responds to the MIDI from Live which already knows the clock. it doesn't really need to know the clock anyway that would prolly only be handy if you needed to interface the tempo with a modul (script) parameter..
anyway some thoughts..