By default, ToolStripMenuItem does not contain an implementation for clone. Here's the code for ToolStripMenuItem.Clone.  An alternate solution is to implement IBindableComponent and databind your menu item to a Command which drives the Text/Image/Enabled/Available properties.

public class ClonableToolStripMenuItem : ToolStripMenuItem {
  public ClonableToolStripMenuItem() {
  }
  internal ToolStripMenuItem Clone() {
   // dirt simple clone - just properties, no subitems
   ClonableToolStripMenuItem menuItem = new ClonableToolStripMenuItem();
   menuItem.Events.AddHandlers(this.Events);
   menuItem.AccessibleName = this.AccessibleName;
   menuItem.AccessibleRole = this.AccessibleRole;
   menuItem.Alignment = this.Alignment;
   menuItem.AllowDrop = this.AllowDrop;
   menuItem.Anchor = this.Anchor;
   menuItem.AutoSize = this.AutoSize;
   menuItem.AutoToolTip = this.AutoToolTip;
   menuItem.BackColor = this.BackColor;
   menuItem.BackgroundImage = this.BackgroundImage;
   menuItem.BackgroundImageLayout = this.BackgroundImageLayout;
   menuItem.Checked = this.Checked;
   menuItem.CheckOnClick = this.CheckOnClick;
   menuItem.CheckState = this.CheckState;
   menuItem.DisplayStyle = this.DisplayStyle;
   menuItem.Dock = this.Dock;
   menuItem.DoubleClickEnabled = this.DoubleClickEnabled;
   menuItem.Enabled = this.Enabled;
   menuItem.Font = this.Font;
   menuItem.ForeColor = this.ForeColor;
   menuItem.Image = this.Image;
   menuItem.ImageAlign = this.ImageAlign;
   menuItem.ImageScaling = this.ImageScaling;
   menuItem.ImageTransparentColor = this.ImageTransparentColor;
   menuItem.Margin = this.Margin;
   menuItem.MergeAction = this.MergeAction;
   menuItem.MergeIndex = this.MergeIndex;
   menuItem.Name = this.Name;
   menuItem.Overflow = this.Overflow;
   menuItem.Padding = this.Padding;
   menuItem.RightToLeft = this.RightToLeft;
   menuItem.ShortcutKeys = this.ShortcutKeys;
   menuItem.ShowShortcutKeys = this.ShowShortcutKeys;
   menuItem.Tag = this.Tag;
   menuItem.Text = this.Text;
   menuItem.TextAlign = this.TextAlign;
   menuItem.TextDirection = this.TextDirection;
   menuItem.TextImageRelation = this.TextImageRelation;
   menuItem.ToolTipText = this.ToolTipText;
   menuItem.Available = this.Available;
   if (!AutoSize) {
    menuItem.Size = this.Size;
   }
   return menuItem;
  }
 }