This code is a 'hack'. There is a proper way (or at least a "more" proper way) to interrupt the ignition.
Just a tip... Maybe someone will pick up on this tip 

Because functionally it serves its desired purpose of building boost and maintaining a set launch RPM.

I agree that it would be more desirable to retard the ignition timing until the air mixture is leaving the cylinder - but this "hack" works without much work and achieves the desired result.

Wether done by ignition cut or by ignition angle, antilag in ME7 seems to be always a "hack"  .

Regarding the ignition angle:
in all ME7 files that I have looked at, the system constants limiting the
ignition angle in the ignition driver code are set to:
  SY_WMIN  = 0xE0 = -24.0 deg
  SY_WMAX = 0x4E =  58.5 deg
I would guess, these are limits of the driver implementation on the C167 and if you
just circumvent these limits, the driver probably might not work as intended.

So, would -24.0 degrees be late enough to keep the engine from raising rpm?

matchew: did you implement successfully antilag using ignition angle modification?
Is the driver code able to produce ignition pulses later than SY_WMIN?

Aha! -24 deg makes the RPM's drop for sure but it makes no boost.
We need to be able to push it to -50 at least

That sounds good. Is cutting cylinders needed to limit the produced boost?
And I guess the limitation (SY_WMIN) to -24.0 deg has to be removed or was
this ignition angle sufficient?

Ok, this stuff is way beyond me. lol

Was thinking, if you can only get 24* on the output side, could you manipulate the input side to get the rest? Is there a crank trigger offset that you could make the balance up on? Have a feeling it would freak out the cam sensors and drag both fuel and spark with it though. Just an idea.

^^^ Do you have an AFR gauge in that car?

I have the issue that the car goes full rich when I do a 2-3 and 3-4 shift with NLS... and only recovers if you let off and get back on the gas.