When you copy and paste text from application to application via the clipboard, you'll sooner or later run into a simple yet annoying problem: Often the text is copied as rich text, i.e. including colors, different text sizes and so on.
Intended to be a feature, this can be a real pain if all you want is plain text.
If you're not pasting into an application which lets you choose the format of the pasted text (Office 2010 does a good job here), you are forced to paste the text to Notepad first, then copy it again before you can paste without formatting.
ClipTextify allows you to convert the content of the clipboard to plain text by pressing a hotkey (e.g. Win+V), before you paste the text into the target application.