Limp is simply when you over power it such as using a programmer turned up to high.
The Code P0700 is telling you that their are additional codes stored in the TCM that need to be read. That will really tell you the problem. I would bet you limped it accelerating hard like that.
Most of the time to fix it from happening again, you would need a Rebuild Kit. Suncoast sells the Kits. I'm actually getting a Stage 4 Kit from them myself to put in my transmission.
If you don't want to fork out the money I would simply turn the programmer down and not be as hard on the 4-5 shift.