Hi Chris,
John is correct here. The KR Governor timer works by monitoring the rpm all the timer, so I set a trigger point and if the rpm goes below that it puts the system into low throttle mode. This usually prevents the motor and esc from burning out. It also helps with a battery that drops in voltage as well. Some esc's have better low voltage detection than others, just like Wynn mentioned for the over-current setting. I put this feature into my system after burning out 3 Jeti Spin esc's. This was rather costly!
My timer system was also aimed at the beginner as well, and of course they will prang a lot when learning. You don't want them to burn out stuff like the motor and esc all the time. Just one thing that I need to point out is that this feature only works when the governor kicks in. When the system starts up it takes just a few seconds to get up to speed and then the governor kicks in. If you fly in long grass I always recommend someone holding the model until the motor is up to speed just in case the prop snags the grass.
Keith R