Lenovo added this feature to their Y50 as well as their Y510P and probably quite a few other laptop models too. Lenovo decided that if you are gaming, you probably won't notice if Turbo Boost gets disabled in the background. As soon as you are done gaming, the CPU speed quickly returns to normal and most users are none the wiser.
Intel Turbo Boost is a feature built into Intel's CPUs. A user that buys a laptop with one of these CPUs should expect that it runs at the Intel specification. Imagine if an auto manufacturer decided to disable half of your engine. As you go to pass someone, you step on the accelerator pedal and all of a sudden cylinders randomly deactivate and your car starts running like a slug. Now imagine if a company did this, provided no notification to the user of what just happened and worse than that, never mentioned in any of their documentation that this feature even existed. You call to complain and the help desk people also deny that this feature exists. This little problem would end up on 60 Minutes and a class action lawsuit would soon follow. Computer manufacturers are allowed to get away with stuff like this because the media rarely talks about throttling so most consumers are in the dark. ThrottleStop has been around for over 5 years now for a reason. Throttling is not a new problem.
Many games are not very CPU dependent so Lenovo has been able to get away with this trickery. Games that are CPU dependent will run poorly when this feature kicks in. Intel designed the 4700MQ and 4710HQ to use full Turbo Boost right up until the 100C thermal throttling temperature is reached. Disabling Turbo Boost is a problem that Lenovo will never admit to let alone fix. It is by their design.
I have used ThrottleStop for over a year to bypass this problem in my Y510P. It still runs just fine. ThrottleStop can not prevent your CPU from thermal throttling if it gets too hot. No software can prevent an Intel CPU from protecting itself from damage. The warning message on ThrottleStop is so users will take responsibility for their actions. It is your laptop. If you do not feel comfortable running your CPU at its Intel rated speed then do not use ThrottleStop.
To fix this problem, check the ThrottleStop - Set Multiplier box and set that value to the maximum which should be 35 T for the 4710HQ or 34 T for the 4700MQ. Use the Windows High Performance power profile when using ThrottleStop. Make sure the BD PROCHOT box is clear and then click on the Turn On button to take ThrottleStop out of monitoring mode and you are done. Minimize ThrottleStop to the System Tray and then go play a game at the full Intel rated speed and enjoy. It can keep track of your maximum CPU and GPU temperature. As long as your maximum CPU temperature is under the 100C thermal throttling temperature, you are operating your CPU within the Intel specification.
Here is an example of how to setup ThrottleStop.
http://i.imgur.com/UsdwVPK.png
Intel included +2 bins of turbo overclocking with these CPUs so this 4700MQ is setup to use that feature. I can understand if a laptop manufacturer decides to turn off the overclocking feature but I disagree with turning off the entire Turbo Boost feature when gaming. That is cheating users out of what they paid for.