well, this may sound funny, but if it is too rich it will do that.
tuning can be an all day project to get it to run right, and so it won't die when you hit the throttle.
when you turn the screws(turn them in for lean, out for rich) turn them a tiny bit at a time. think of the screw head as a clock, and turn them in one hour increments. a tiny turn can make a big difference.
usually when an engine is too rich, it will bog real bad, or die out because too much fuel. and engine will literally screm and have alot of power if it is too lean, but it won't last long running it that way.
remember that if the outside temp. changes from day to day, you will need to re-tune slightly once you get it running good.
it takes time and patience especially in the beginning and it can be frustrating to get it to run right.
i found that when my engine would do what yours is doing, the hsn (the one on the side of the carb by the linkage) was set too rich.
i really think that your problem is in the carb settings.
it literally took me a quart of fuel to get mine to run without dying. tuning is time consuming and frustrating sometimes.
don't give up on it, and just keep trying.
the other thing to check is your fuel line. make sure that it isn't rubbing on the spur gear, and make sure that it isn;t kinked. if the fuel line has a tiny hole in it, it will do the same thing that you are describing. i'm not sure how your fuel line is running or mounted, but the volcanos fuel line runs very close to the spur gear and i know that alot of people have had the fuel line get into the spur gear which will rub a hole in it.