Re: 1975 25 HP Timing
I agree with tj above. Ensure your carb is synced in the right spot. Obviously, if the carb butterfly is shut, the only thing that is happening as you reduce the throttle, is you are moving the spark timing further past TDC, until eventually it is so far past TDC, the motor dies. So if this carb sync is already set too far past (roller hitting the throttle cam "before" the mark), then this point will come sooner then it should, as you reduce throttle.
Also, when it has warmed up you want to ensure that your slow speed carb adjust is set right. You could try adjusting it a quarter turn counter-clockwise and see if that helps.
The last thing I would check is if both cylinders are indeed firing and are strong enough to run the motor. These motors will run incredably well with only one cylinder working, to the point that having a failed cylinder is almost unnoticable, when running in a barrel. What I usually will do, after I have tuned up my motor, is fire it up, warm it up and at a faster idle, I will take a pair of insulated plyers and pull off one spark plug boot at a time. The motor should keep running when either boot is removed. If it dies, then you know that the other cylinder was either not firing or was very weak. If this does happen, reply back and we can give you some tests to identify why only one cylinder is working, but in any event, this is a good check to do.