The parking brake sensor is also on the clutch perch, it's a convoluted design and if there is any slack in the parking brake cable the switch can activate and will set a rev limiter just above idle. The purpose of this design was so you couldn't ride away with the parking brake set, but you can't really do that anyways because it releases when you pull in the clutch to put it in gear.
So here's the solution:
Remove the headlights (4 bolts), unplug them (2 plugs), and set them aside. Remove the hood (4 screws) and set that to the side. You can let the key switch plugged in and just set the hood out of the way.
Now that you have an open view of the wiring coming from the handlebars down to the rest of the wiring harness, follow the little black wires coming off the clutch perch to where they plug in. The clutch sensor will have 2 seperate spade connectors, you can leave these connected if you want to, or you can just unplug it to avoid having problems with it in the future. If you do unplug it, plug the male and female plugs together in the wiring harness to create a loop and bypass the sensor.
Now on to the parking brake sensor, the real source of the problem. The sensor on the perch and wiring to the harness is the same as the clutch sensor, but has a single white plastic connector where it plugs into the wiring harness. Just unplug this white connector, and tape up the connector on the wiring harness good so that it doesn't get moisture in it. Most likely it won't hurt anything if it does get wet, but it is possible for water to cause it to short which will cause the rev limiter to set in until it dries.
Put it all back together and give it a shot, I bet you'll never have it bog out again.
