Thanks to BrianWilson DanPatterson and JeffK.
They each provided me the info and solved.
ANSWER: There is only one conda.exe. It lives here: C:\Program Files\ArcGIS\Pro\bin\Python\Scripts
to use conda in your cloned environment, you fire up conda.exe and type this:
activate C:\Users\TheUser\AppData\Local\ESRI\conda\envs\arcgispro-py3-clone
Then when you type this: "conda info" you can confirm which environment you are in. (Thank you DanP)
If you fire up conda.exe without activating your clone, the "conda info" is pointing to your default environment (C:\Program Files\ArcGIS\Pro\bin\Python\envs\arcgispro-py3)
Thanks guys. Would never have figure this out.