The clutch cut taps into a switch that tells if the clutch is pushed in. You set the parameters of the clutch cut, but mine is set like this...

If I am going over 17mph and the clutch is pushed in I have a separate rev limiter. So, if I'm racing, I can run all the way through 1st gear, 7000rpm, push in the clutch, leave your foot on the gas and a new limiter is set at 5500, pop the clutch and you are much closer to matching rpms when you let off the clutch and then your normal rev limiter kicks in at 7500 again, until you push in your clutch. No need to worry about the gas anymore, just keep it mashed.

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