An interesting symptom...

[TaosBrick]

Ok, now that I have my steering head sorted, that brings me to the next conundrum, in the performance dept.
  Ol' Chile Red has developed a curious phenomenon, where when I am going at HiWay speed and cut the throttle and pull in the clutch, she quickly winds down and dies.  She'll start again with some cranking and a mostly open throttle after turning over for about five seconds or so. 
  She is also slightly more sluggish at 59k miles than when I got her at 28k, and seems to take a bit more time warming up.
  I will note that I've yet to check the valve clearances since I got her in August of 2011, and I've no idea how well the air flow meter may or may not be functioning.

[subforry]

I test rode a K100 that had the same problem.  My thoughts were that when the throttle is closed the EFI stops opening the injectors.  Once the engine RPM drops to idle or so it starts opening the injectors again - like when the clutch is pulled in.

But I think on the bike I rode and yours that the injectors are not opening again and the engine dies.  If it was a Mercedes with mechanical fuel injection I could tell why.

[TimTyler]

... I've yet to check the valve clearances since I got her in August of 2011...

Yeah - That's what I would suggest.

[Scott_]

... I've yet to check the valve clearances since I got her in August of 2011...

Yeah - That's what I would suggest.

Then I would suggest checking the TPS adjustment.