So, are you saying that the u-joint will be stationary while the vehicle drives down the road? Or, that it will spin at its normal speed, being driven by the rear wheels.
The way that I've always understood it; if there is a difference between the speed of the drive shaft and the wheels, the clutch will engage. If you remove the drive shaft, and the u-joint doesn't spin with the wheels, then any time the wheels are turning there will be a difference in the speed of the joint vs. the wheels and the clutch should engage.
If the u-joint spins along with the wheels, due to internal friction in the pumping system, then it's true that the clutch won't engage. But that scenario pretty much rules out any fuel savings, since you're still moving all the same parts that you would be moving if the drive shaft was still installed.