The male is gorgeous, but no I would not advise breeding them, its very expensive, very time consuming and can potentially result in the death of both parents, not to mention you need live food to feed the fry, a large grow out tank, a heater, a sponge filter and enough space to separate up to 300+ potential babies.
i put them in the same glass while i was doing a water change, for about 30 seconds. there wasnt any nipping, they were a lil stressed from the water change which explains the color and no her fins are never clamped.
You should never, ever put males and females together, even if it is for only 20 seconds. They should only be together for breeding purposes, and even then it is a difficult process to get them to not kill each other. Also, I don't suggest keeping two fish in a divided tank any less than five gallons, especially with no filter. What is your water change schedule?
I suggest you do a bit more research before you decide to breed, it doesn't some like you have all your betta facts straight, considering you put them in the same glass.
There are tons of good sites out there with betta info and betta breeding info out there, like bettysplendens.com or bettatalk.com :)