O-1 is a tough steel to get a hamon on because it is so deep hardening. A shallower/faster hardening steel like 1084, 1095, or W series works much better to get active hamons using clay on the spine. That being said, it is possible.
Brian Goode is the only guy I've seen getting consistent hamons out of O-1, and I believe he uses a torch to the edge and edge quenches in oil. He doesn't use clay, just draws the heat on with a torch (probably oxy/acet).
Here's a thread that may help you out:
http://www.bladeforums.com/forums/showthread.php?t=537801&highlight=hamon
O-1 really benefits from a soak at temperature to get all carbon in solution, so if you use a torch, be prepared to sit and move it back a forth a while. The probelm with using a torch is that it's tough to judge temperature, especially while trying to hold a constant temp, and if you over shoot the critical temperature, you'll soon come to a temp where you will see rapid grain growth and a significant decrease in the quality/toughness of the finished blade. You've got to experiment to find roughly where the critical temp is, observe that color carefully in a consistent low-light room, and try not to go above that color. You could quench after a very short soak at temp and still get a servicable blade, but it won't be as good as it could be with a longer soak time.
If it were me and I wanted a hamon, I'd use 1084 and a fast manufactured oil quench. Let us know what you come up with.
Edited to add: There are a number of makers who have tried to get a hamon out of O-1 unsuccessfully. I've tried and never had too much success.
--nathan