If the correct take-off configuration is not set, the TOCW will indeed sound as soon as the thrust levers are moved above a value corresponding to about 80% HP RPM, if I recall correctly. But above a throttle angle corresponding to about 96% HP, TOCW is inhibited.
There must have been another reason for what sound to have been a high speed rejected take-off - but it will not have been that 'the crew failed to configure the aircraft for take-off' unless part of that 'configuration' was to obtain take-off clearance.
Later in the RAF VC10's life, some bright FE decided that 93% would be sufficient to use for take-off, provided of course that the calculated P7 value was obtained (until then we had a min. HP RPM limit of 96% for take-off). But this requires a throttle angle less than that corresponding to TOCW inhibit, something he obviously forgot when this new SOP was introduced. One day I was doing such a take-off at Brize when at around 90 KIAS the TOCW suddenly sounded - causing me to abort the take-off. Subsequent investigation revealed a fault in the horn interrupter unit - there had been nothing wrong with the aircraft. But what
really annoyed me was the fact that a few other crews had experienced the same thing, but hadn't bothered to report it....
