I think you are right on.
At first I unplugged the black wire coming from the limiter, and thought I had solved my issue. I did not have to hold the button down to put it in reverse, and I had full power. But,after driving for a few minutes the atv died.
So I traced the cables from the limiter, and re plugged them in on the circuit board, and re-plugged in the black wire Did a quick test ride, and so far so good. Time will tell, I need to pull a trailer with it tomorrow to move some wood, hopefully it keeps working. I did do a reverse test and after a while driving in reverse only for a few minutes, the atv again died. Must be some kind of irritating feature.
Does anyone know if there is a way to permanently disable having to push the button to go in reverse. Every solution I tried works for a few minutes before the atv shuts off.