I have checked mine 15 ways from Sunday, and found that it stays wide open the entire time, regardless of RPM, engine load, temperature, speed, etc. So the stupid EXUP valve remains open, regardless of whether the cables are connected or not. This is for Gen II bikes. I think Gen I EXUP valves actually functioned somewhat.
Therefore, you cannot gain any power by hooking up the cables to your EXUP. It is spring loaded to stay open all the time.
I would have thought that the EXUP might help fuel economy under very light load conditions by closing slightly to reduce the amount of intake mixture pass-through due to camshaft "overlap" when the intake and exhaust valves are both open for a short period in the cycle. I went so far as to rig up a manual operation of the valve, and experimented with closing it slightly, but no gain in fuel economy. The entire mechanism is worthless.