First flight of the Magnum... Wow!
Nothing scientific about it, the only thing that happens when you throttle back is that your engines draw much less fuel, so the fuel lines don't fill up with air so quickly. At WOT things happen fast. If you level out, and apply full power again, those few bubbles mostly don't stop your engines.
I always make sure the clunck is capable of going anywhere it wants to, because that's usually where the fuel is. That's why I turn my own cluncks, and make 'em about 3 times as heavy as the ones usually supplied with tanks. Plus I use a very thinwalled clunck line...
In a 2 oz tank, things get complicated of course...