Was just looking for magnified pictures of record scratches so I could better understand how to fix mine. Got more than I bargained for here! The insects, CD, Penny, type, highlighter... all so interesting!
That clicking is the sound of gashes he's cut into the lead-out groove of an old record. That's why the video is so concerned with microscopy and images of records/tapes/cd's. He's been using this method in his music for years, usually modulating the harmonics with lengths of PVC pipe. Here, it's relatively unfiltered (some reverb near towards end) and paired with a minimal, syncopated drum machine loop. I suppose it could be annoying, but I've heard plenty of retrigger-happy electronic music which does far worse, and I love it!