It just might be that you are having a fuel flow problem instead of just hitting the rev limiter.
I suppose it is also possible that you are accelerating so hard that inertia carries you well over the rev limit and the ignition shuts down untill you get back below the limit. You can test this by upshifting to see if it lights off sooner when the higher gear pulls the engine speed down.
Normally, hitting the rev limit results in the engine not firing one time in two or maybe two in three to keep it from going any faster, but it rarely shuts down completely.
If your bike is an '02, it might have come with a defective igniter module. There is a "quiet" recall on those in the form of a TB saying to replace the module free if it goes bad, providing the vin number of the bike falls in a certain range. If you do some searches, I'm sure the TB number will pop up because it's been mentioned in a few threads.
