What causes ( I assume it's electrical) the engine to bog or cut out while trimming the outdrive up? Whenever I go to WOT It seems to kill the ignition when I hit the trim. Does anybody else have this problem?

can happen if batteries are real low or naginal condition

I had a problem like that quite a few
years ago.

Ended up being the wires to the
trim limit switch (on the side of the gimbal ring)
had worn the insulation off of them, and were
contacting the transom assy,
creating a direct short to ground whenever
the up trim was activated.

The only other thing I can think of would be
a shorted up solenoid.

Like Klaw said. Bad battery. Had same thing happen to me.

I've seen this problem caused by a bad coil several times. Also alt or battery. Trim limit wires can do this but usually blow the inline fuse off the trim pump first.

Clean up all of your ground's also on the distributor!