The channel bot is similar to that of a regular diablo 2 bot. You can make it greet people as they join the channel, idle messages, or simply hold the channel open. It can also be used as a way to ban people you don't want in the channel, and you can give powers to control the bot to the higher ups in your guild or clan.
Keep in mind that the name of the account is what the op will be represented as, and names must be at least 3 characters and start with a letter, so names like [BF] or BF aren't allowed. If you wanted an actual clan channel, such as "Clan BF" you would need to have Wc III: TFT and 14 other friends to start up the clan.
Keep in mind why you started the clan or guild: to have fun with your friends. The reasons why most clans have died off is because they treat them like politics and gangs, flooding and spamming "enemy" channels.