That depends on your definition of DC. You could take any waveform, say for example a sine wave, and say that it's DC in the sense that the top half of the wave causes current to flow in one direction only. The bottom half also causes current to flow in one direction only - but it's the opposite direction. So is it DC or AC? It makes sense to call it AC because the direction of current flow alternates.
However, if you just look at a portion of a waveform you could easily claim that that portion is DC because current flows in only one direction for the duration of that portion.
How much does it matter for frying speakers? The distinction is to some extent academic because DC, sine waves, and square waves will all fry speakers. However, since power is proportional to the area enclosed by the waveform, square waves have more power due to having a larger area and therefore can heat up voice coils more.
Yes....damage occurs when a driver is getting more power than it can handle, regardless of wave form. The fact that a signal is being clipped does not necessarily mean it will damage the driver.
But I would agree that clipping can result in the delivery of more power to the mids and tweeters than they would get if the signal were not clipped. I believe this to be primarily a function of the user continuing to add voltage (via the volume knob) after maximum amplification of the lower frequencies. The higher frequency portions of the signal may or may not be clipped in this situation, but in either case it is not the clipping that causes the damage...instead, it is this "additional " power (if it is surpasses the driver's power handling capabilities).
If it does not exceed those capabilities, damage will not occur...regardless of whether or not the signal is being clipped.
DC does not inherently damage drivers, nor does clipping. Damage occurs when power exceeds the capabilities of the driver.
That said, clipping can certainly be a predecessor to over-powering a driver, and can increase the likelihood of doing so (as a function of higher continuous power in the frequencies being clipped).
In all cases, clipping is not good. At best, it distorts the signal. At worst, it increases the likelihood of damage...to not only the speakers but also the amp (clipping can throw an amp into oscillation, which in turn can cause a variety of nasty problems).
Last thought...while some members have jumped on me for saying so without strong empirical evidence, I believe that clipping is much more common than most audio enthusiasts would expect. For instance, consider the large number of members using amps in the 25-40 watt range, running speakers rated at 86dB or thereabouts, and playing them LOUD.