Will the Arduino's low clock speed limit wireless transmission frequencies that are higher than the clock speed of the Arduino? I've recently used 2.4GHz and 433MHz wireless communication modules, and I was wondering if the Arduino can only process at 16MHz(Arduino UNO's clock speed), then won't the communication modules also be limited to a maximum 16MHz?
The frequency of a (wireless) radio is its carrier frequency. The data stream is carried on it by modulating that carrier wave in some way: by frequency-shifting, for example. A given processor could not provide data at a rate faster than its clock frequency (at least as a steady-state rate), but a packet of data, once supplied to and buffered in the radio, could then be streamed out at a speed unrelated to the physical specs of the supplier (the MCU). If the MCU had to drive the transmitter, bit-by-bit, then that would indeed limit the transmission speed.