Ok, i called the ford racing tech line 1-(586)-468-1356 (you can verfiy this if you like) I talked to a dude named bill... bill said " you have to remove the oil pump, and insert the oil pump drive shaft from the bottom of the motor going up. You need to mock the pump up, and adjust the clip to ensure the oil pump driveshaft is fully inserted into the oil pump itself. If you find that your distributor isnt going all the way down, it can be trimmed (the drive shaft) to make it seat properly. If you put the clip on from the top, especially with a new drive shaft and a new distributor, you will more than likely pull the drive shaft out with the distributor, and you will have an extremely difficult time getting the drive shaft back into the oil pump. most people that do it that way end up accidentally dropping the drive shaft into the oil pan, and then call us to see what to do" he also said Ford calls that little clip a "keeper" because its function is to "keep" the oil pump driveshaft from being pulled out of the oil pump.
do what you want with yours Kdub, but honestly, mine will be going in from the bottom.