'Paste New' is used for bringing in an independent copy of a component, so that changes to such component won't be reflected in the one that was copied.
The naming is a bit misleading, isn't it? Even the regular 'Paste' creates something new (a new instance of existing component).
I would suggest "Paste Independent" or something like that itself - or redesigning the whole component management so that this would become a non-issue.
Another suggestion could be to rename "Paste" -> "Paste Instance" and "Paste New" -> "Paste Independent", making people realize they are making a choice here and either choice is not more "correct" in absolute terms than the other - they are equal.
A further choice could be to move 'Paste New' below the 'New Component' and call it 'New Component (with contents)' (similar to how pixel programs have 'New From Clipboard').
p.s. 'Browser' should be added to Idea labels