Andy,
I’ve got E4s on both the 301 and the 601.
I’ve run the hoses through all three clips on the chainstay, as per the wwaswas setup.
On the 301, I have standard black hose. It moves longitudinally through the chainstay clips under suspension compression. When the suspension compresses, the hose moves backwards and the gap between hose and rotor remains pretty constant. As the suspension then returns, the hose pulls forward through the clips and away from the rotor.
After about 6 months of riding through Winter slop, some signs of abrasion are starting to show on the hose at the rearmost clip.
I have braided hose on the 601 and the clips hold this firm, but the flex of the hose material seems to keep it away from the rotor better.
Both work, but both need to be checked by cycling the suspension without pressure in the shock.