UPDATE: Looks like I got it going again. Decided I'd take a different approach to see if it wasn't really electrical, and looked at the carb instead.
I changed my fuel filter which didn't help the situation, causing my float bowl to overflow and severely flood the carb, to the point the airbox has gas in it
. I replaced the float needle assembly since it didn't seem to be sealing now with the increased fuel pressure, and rebuilt the carb, adjusted float height. It was DIRTY! Mid/High jets were probably clogged and why the bike hesitated so bad at middle to high throttle. The float bowl was stained with dirt residue in it. Got my choke loose again too and readjusted so it works now - PITA to removed from carb body, I was unsuccessful. After all this, there is no hesitation in throttle response through the whole RPM band.
I hate that I mis-diagnosed this as the rev-limiter, but I have to be completely honest that the instant missing and sputter was very consistent with the reverse rev-limit kicking in, in all gears around that specific RPM and up. And the fact that the reverse light comes on when the yellow button is pressed and the bike is in forward gears I thought for sure it was electrical. Anybody else have this light indicator behavior too? Guess I could have put the bike in neutral to see if it sputtered there too when revving the engine.
Unfortunately this issue started right away after the Popo was put up for several weeks, without any warning or bad running symptoms previously like this, so I didn't think it was a fuel problem.
I did discover yesterday after the carb fix, that in reverse the override doesn't kick in, it goes as fast as you want. I've seen this on another Popo's every now and then, sometimes it works other times it doesn't. But last time I check I still need to push the button for 4WD to engage in reverse gears.
Hope this helps anyone.