Wow! There is a website called www.jubileeclips.co.uk !
While awaiting their input on the origin of the name, it appears that Jubilee Clip is a registered trademark, and that the 'Jubilee' worm drive hose clip was conceived by Commander Lumley Robinson the founder of L Robinson and Company, in 1921.
This question was asked in the Daily Mail a while back and I believe that the company replied to the query. The answer was that they did not know why the name Jubliee had been chosen.
I wonder whether there might be a connection with the Hebrew word 'yobel', meaning 'ram', which came to stand for the ram's horn that is still blown today to mark Jewish festivals. This is certainly the source of our word 'jubilee', to mean a special celebratory occasion. A ram's horn is, of course, twisted, indented and bent back upon itself in much the same way as the clip is. Just a thought.
Yes, indeed.WendyW was correct. I asked the company directly and they replied: There is no simple answer to your question, the company started in 1921 and we believe the clips were originally to be sold as Robinson clips, but soon after the company was founded the name Jubilee was chosen and patents and the name registered. The company is still a family business, however the reasons for the name change have been lost in the mists of time. Sorry we could not be of more help.