Wow, that definitely doesn't look good! I'd certainly fix that, but I don't think there are many minerals in gasoline to conduct current, like there are in water. One explanation for this could be that your pump can't keep up with the high-volume demand of the engine at higher RPM. Maybe it can get enough at low speed, but not WOT. Does it backfire (lean indicator) or sound different when you try to make it go past 5k rpm? Does it die, or rather bog past 5k?