Well I think I was referring more to the fact that a shortcut was available.
As I use it frequently, I was a bit worried that the 'clear' button from Pd 0.42-5 had gone forever. It was a relief to find I could still wipe the log easily.
I agree with you though, why 'L'? Cmd + shift + x seems like a good alternative - both in terms of placement on concept (where x is usually assigned to cutting).