I'm still getting the hang of the 'Hold on for dear life' I get from a quick takeoff. Not ready to take the bike to it's limits yet. I have literally had my left hand come off the grip coming out of first a time or 2, the torque is really suprising on these bikes.
The responses pretty much describe how the bike will react when you hit the rev limiter. It is part of the ignition system. I think it basically cuts off one of the cylinders from firing.
Thats how the dealer described it to me. One of the cylinders shuts down. They told me it keeps you from over revving it and blowing the engine. I'll take their word for it.
The only time I've ever hit it was coming up the hill toward home (smallish hill) when I really got on it from the light.