Answered on the Ghetto. I'll reproduce here, however.
That is the classic sign of the ECU's marvelous trimming ability. Basically, below 4000 it gets trimmed to somewhere near the stoichometric point (which is not where the 8V runs stellar). Unfortunately it's doesn't do a very good in your case, as stop start riding like in a city does not allow for a steady throttle for a long period, so you get an uneven trim effect.
You can eliminate it immediately by pulling the main fuses for 30 seconds. That will reset the trims. However, after a couple of hundred km, it will return to its hunting ways. The only long term solution is to remap.