It's not a "rev limiter" it's a deficiency in the quality of the spark, according to Vizard. I remembered that I had found and copied some pages from an old article by Vizard and managed to find them again. His whole issue was that the stock HEI system's spark quality, aka voltage, dropped off too soon (for his desires). As I recall now, the reason it bothered me was that he was bashing the system based on race engine needs. Typical bench racer stuff. (p.s. actually, in looking at what he wrote, I realize that what's bothered me over the years is how this limitation shown by Vizard has been spread around the gear head world as gospel, even though it's basically nonsense for a typical car hobbyist.)
In looking at the pages I even see that his "limit" was actually 5,500 RPM. His recommendations are for ways to get the RPM spark quality up to 7, 8, or 9,000 RPM.
Here are a few excerpts from those pages.