Mine did something similar, it would shut off, then when the switch was cycled it would do fine until the throttle was pressed and it would switch off. I swapped it out for a spare v2 that I had not used yet. I will see what voltage that one puts out and report back...
mine do the same thing....run good 3 minute and died i power off-on good againt for 3 min..and it really died...the strangest thing is on 4 cell it was a rocket....on 6 cell lipo loll a lot of fu..&*??&* fun