Chip Todd himself clips the red wires. I've not played a T-40 with the wires clipped but I have played several blade pickup equipped guitars that Chip clipped the red wires. To my ear they were warmer than an unclipped blade pickup.
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Tony
ITOC #05-00013
3 T-60s, T-63, mini T-60, T-15, Generation Standard, Impact 1, Mantis LT, Milestone, Nitro III, Patriot tremolo, Predator, Raptor, Razer, Reactor, 4 Rockmasters, Tracer, Bandit, Micro Bass, Musician 400, VSS 20, Vypyr 30 and Sanpera I.