I have had the clutch in my first car slip under some circumstances. Those being that the clutch was completely worn out, and may have had oil on it. And I was going uphill and tried to accelerate. There was a little slippage at first, then more and more. So it can happen, but it is a sign that something is quite wrong with your clutch.
Any slippage will generate heat through friction. The heat will generally make the coefficient of friction drop--which will lead to more slippage. It's a positive-feedback loop, one you really do want to avoid.
-soD
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