Check the connections behind the switch with a tester. Only a pos and neg to it. Once the master power switch in the rigging area is on, that red wire should be hot. Could just be a loose connection. If not, you will have to trace it back.
Yes, the Classic gets pretty squirrelly over 65 mph. More driver input required than the P2 that I just got rid of. Holeshot is amazing in both.