What's up with clear wheels? I see a lot of people putting it on builds lately.

Yes, and yes. Depends on the look you're going for, and how well the wheels spin. If they work, use 'em 

I use clear wheels all the time in my builds when allowed in the race rules.  I just like the way they look.  They give you no advantage over black wheels (or any other color).  

From what I have heard the clear plastic is a different type of plastic than black. Black is the generic leftover waste of all the other plastic. 

Clear wheels are faster.  Red cars are faster.  Everyone knows that.

they are slightly lighter so if they spin good then they are easier to get moving compared to black ones... so pairing good clear wheels with a perfectly balanced heavy car can win races. It is almost comparable to using ftes