@alex - I've read the HR727 text, and understand that the "electric bike" definition is now under the restrictions of the Consumer Product and Safety Act (15 USC 2051). However, nowhere in my readings have I seen anything as specific as you mention, notably "require all electric bike throttles to immediately return and stop the motor upon release", nor could I find anything that could be interpreted as that. Would you be so kind to point me to that legislation -- Federal, State or otherwise? I'd like to review.
The other comments regarding safety are valid, and although I'm not as emotional in my writing regarding it or with a response to some of the colorful words used to convey others' thoughts, I certainly can respect them. There are some good points brought up. Thinking through some of the potential hazardous scenarios, I thought of something hypothetical myself, which may have already been addressed by the creator of this product: What happens if the button that you hold down sticks, or breaks closed (assuming closing the circuit is what is turning it on)?
Anyway, a design improvement that I will offer up, and perhaps do on my own, would be a throttle-type control that is simply on when it reaches a threshold, and off when it passes back over the threshold. Just as a real throttle, it is tensioned so it returns to "off" when not twisted. I am not suggesting a variable speed control, but rather just borrow the design. I know when I ride my motorcycles I find this very ergonomic. I also know that this might not work for everyone, or be as easy as strapping a button where you see fit.
Now, as I said in my original response to this post, I do not have my kit yet (Monday ETA), so I can't comment on the comfort of the system. I also can't comment on whether or not holding a button down for an extended period of time is safer than not holding a button down for a period of time. I could go off half-cocked and argue all the seemingly valid points to not having a better on/off system, I could also argue against it. But honestly, that's not a productive use of time. I'd rather be riding.

I will evaluate the electronics when I receive the kit, improve upon it as I see fit (understandably voiding the warranty), and if permitted, offer up any design changes I may have made on my own. I'm a big believer in open-source, and I'm a big believer in free ideas.
Read them or not - that is your choice, just like it is my choice to experiment with design improvements on my own and share my knowledge.