Here is a histogram (Colors | Info | Histogram in GIMP) of that photo:
That peak at the far right implies clipping: in this case there were a lot of pixels that were too bright for the exposure settings and were all given the same (pure white) value. Generally you want to avoid a peak at either edge, since that often indicates the exposure isn't set right for the scene.
A way around this is to check the histogram display on your camera after you take each picture: if you see a peak at one end of the histogram, you are losing some information and you should adjust your exposure (note: there is a common piece of advice to "expose to the right," which is actually what you did here) to compensate. (If you see a peak at both ends (and your picture does have a small peak at the dark end), you're losing both light tones and dark tones; one solution is to use HDR techniques.)
http://photo.stackexchange.com/questions/7616/what-is-dynamic-range-and-how-is-it-important-in-photographyWhat is dynamic range and how is it important in photography? explains the concept a little more.