I noticed in the [H]ard OCP forums that you got this problem figured out.
So other users can understand the problem, here is some info from the ThrottleStop docs.
"For ThrottleStop to work correctly in Windows Vista, Windows 7 and Windows 8; you need to go into the Control Panel - Power Options and select the High peformance Profile. Open up Change plan settings then select Change advanced power settings. After this click on Processor power management and finally Minimum processor state. Set this to 100%. This will allow ThrottleStop to control your CPU performance settings at idle and at full load instead of Windows."
Setting this value in Windows to 99% disables Turbo Boost. That leaves a 4770K running at its default speed of 3500 MHz and that has nothing to do with ThrottleStop.