Did you try shutting it down and starting it back up? I might have had a similar occurance. I'm still not sure if it went to limp mode or just a glitch. It happened before I knew anything about issues with oil temp with the Z.
I was driving home in rush hour traffic. As soon as I got off the parkway, I stopped at a stop sign near the exit ramp. Revved to around 3,500 rpm and the engine just cuts off power. I pulled over to a side street. At this point the engine didn't sound healthy at all, so I shut her off. Waited about 5 minutes and everything was back to normal like nothing happened. The dealer pulled a code, but I don't remember what it was. All the signs pointed to limp mode, so I'm guessing that was the problem.
Come to think of it, that was the reason I joined the forum.
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[09][MB][6-Spd MT][Touring][Stillen Gen III][K&N][Borla CBE][Evo-R]
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