I was excited when Procreate added a cut/copy/paste feature to their iPad app. It's one of my favorite apps and it is my favorite art app. To my dismay, the feature worked intermittently.
Each update I would try it again to no avail. I have a 3rd Gen non-jailbroken 32GB iOS 6 & 7 iPad and with every version of Procreate that had the cut/copy/paste feature through version 2.0 this feature would not work consistently. I read all the posts on it trying the suggestions.
This morning I figured it out. Settings > General > Accessibility > Zoom was enabled. Disabling it, now Procreate's cut/copy/paste works consistently.
So it seems like the OS is absorbing the 3-finger drag gesture even though that functionality does not come into play until after the 3-finger double-tap zooms in. As I mentioned, when zoom is enabled, the cut/copy/paste only occasionally works. I don't use this feature in Procreate but I do use it sometimes with other apps.
I don't want to clutter up Procreate's interface since it appears most folks don't have zoom enabled, but if there were a button that would invoke the cut/copy/paste dialog, that would be great. Maybe one that appeared when there was a selection above the + (plus sign) :-)