What is the difference between clock reference and positional reference?

The clock reference is the timecode of the video, or the time address information. The positional reference is how fast it’s going. For example, at 3:21 into a music lyric video, the song is probably fading out and really slow. However, at that same point in an action movie, we may be seeing a fast forward to a more important date.

However, do not take my word for it. I have never studied the Pro Tools post-production system that this particular question is asking about. I did some video work with the Adobe suite, but only a tad bit of work at the tail end of a class. I am in no way an expert on this topic, so do your research.