No 1 spark plug is very white if that makes any sense. No 2 normal
Possibly running excessively lean at full throttle, causing the exhaust valves to overheat and bind in the guides, preventing them closing and engine dies. Lack of compression so won't restart. Valves cool sufficiently after 20-30 seconds and free off adequately in guides allowing them to close again. This would account for vacuum gauge readings too.
If the above should be the cause, the valves and guides will need replacing and the cam and followers will likely be wrecked as well.
Have you had it set up on a rolling road since modifications have been carried out?
No, but an interesting theory