I know I'm going against what josh has posted but it's my opinion that you probably weren't experiencing a lean seize. (Trying to be optimistic for you). It is possible that you were just sucking all the fuel out of the carbs. Now depending on how fast this happens could determine whether or not you were seizing. But I certainly don't think the carbs were under fueling. 38's have such a strong vacuum signal with those large pilot jets I feel like you were just using all the fuel in the carbs faster then the pump could supply it. I have killed pistons before when my (in pump) filters have gotten stopped up. But they were only partly clogged when I burnt pistons. The one time they got clogged quickly. The ski acted like it had stuck needle and seats. It would run until I asked for wide open throttle then within 1 second it would die of fuel starvation. Took a little cranking and priming to refill the carbs then it would run again and run well at low part throttle positions. I think the same thing may be happing to you but because of huge jets not a clog.
I am leaning(hoping) this is the case as well. Right off the bat I noticed my carbs were creating barely any vacuum while trying to hand prime my motor, took a lot of cranking to get fuel to even trickle into the fuel filter. My buddy said this was most likely due to just the way the new motor was setup (we are both new to high performance PV motors) but i said a few times i wondered if the pulse lines or something might be causing the low vacuum.
I could VERY easily see mid/high throttle sucking the fuel filter dry and the motor just dying. The fact that I had to prime the motor to get it going again seems to back this theory up. The engine shutoff was like a light switch so while i'm sure it wasn't good for the motor in that split second where it started to run out of fuel and burned lean to the motor just dying, i am hoping it wasn't enough to actually damage anything. I reproduced the issue 4 times, but only let the motor die once, as i was ready for it the other times. Low and Mid continued to work just great.
I am very well known in my riding group for running out of fuel almost every time I ride, so very familier with the feeling of a motor running out of gas, and this was that feeling to a Tee.
Will get a compression test done this week and my buddy msg'd me with a set of 44's I can have, so that will get me back on the water for now. I should be able to keep the jetting the same as what i currently am running? If not ideal it should still be ok i think?