This feature is available starting from Talk 2.4.0.

Long Talk comments get clipped automatically if you have:

To expand an inactive clipped Talk comment or inactive collapsed discussions, which first or last comment is clipped, select that Talk comment or discussion.

In active Talk comments and discussions you can use the 'Show less' and 'Show more' buttons to clip and expand long comments.

When you click somewhere on the page or select another talk, your long comments get clipped again.