This is something I recently wanted to do, but found that the clipping in Edge Animate only allows us to make a square or rectangle shape. I'm pretty disappointed by this because technically you can make a circular, or elliptical, clip shape using HTML5 and CSS3. Also, the same is true for masks. I would love to see this as a future update in Edge Animate because I can see a few more instances where I would want to use clipping, or masking, in this way.
However, if someone has found a workaround for this please let me know as I'd love to be able to do this properly. Thank you. Love the application so far.
To see a preview of this animation that I made for a client go here: http://www.timbutt2.com/client/iPie/previews/Logo-EA-Preview.html