Hitting the rev limiter has nothing to do with TC. In both my N/A and S/C, hitting the rev is common from 1st to 2nd under hard acceleration causing the cars to nose dive if doing the following.

1. Shifting after 5000 RPM
2. Driving auto around 20-40, suddenly accelerating hard then shifting into autostick.

The cars will shift automaticly from 1st to 2nd under those conditions and still hit the rev limiter. Notice hitting the rev limiter only causes the nose dive from 1st to 2nd, this does not happen from 2nd to 3rd or 3rd to 4th.