The VI limiter works as designed. I snub the 4 ohm condition at about the same watts out as 8 ohms for thermal reasons (PL let you blow your amp up if you wanted, I am trying to avoid that). The PL400/700 are not thermally designed to handle CW output at 4 ohms. You are aware of that.
The VI limiter will work anywhere along the linear spectrum when you are driving a load. When you hit around 42.5V peak into a 4 ohm load, you will begin to activate the VI limiter and the signal will flat top limiting the current into the load. That is exactly where you were at 30.05Vrms into your 4 ohm load (10.6A!!). A VI limiter responds to both the voltage and current that is going into the load. The simple spice model I sent you should help explain that, it is truly linear in nature and will protect anywhere along the signal spectrum that it needs to.