Agree with timtyler. AIXI doesn't care about paperclips, it cares about the input string of bits. Given enough smarts, it can just disconnect the input wire from the 3D printer and replace it with a tiny machine that always says "you win".
If anyone here knows how to make AIXI or any other type of AI care about the "actual" number of paperclips produced (the article uses this assumption a lot), rather than some pattern of input into the algorithm, then please enlighten me.
From what I understand about AIXI specifically, I agree, but it seems that the most horrible thing that can be built from the corpse of this idea would involve an AI architecture capable of evaluating its utility function on hypothetical states of the world it predicts, so it can compute and choose actions that maximise expected utility.
Link: aleph.se/andart/archives/2011/02/why_we_should_fear_the_paperclipper.html