I’ve had my SC2 Pro for a few months now and enjoy it at moderate torque settings (IR 56Nm/TD up to around 70%). I have no problems with going off track, crashes with barriers etc, generally things that can be seen, counteracted or predicted a bit in advance. What scares me is contact with other cars, especially in tight turns, when my grip isn’t that strong; like when I am mid-turn and someone dives and crashes. Reaction from the wheel is very rapid and strong. Is there any way I can minimise the risk of having my thumbs ripped off? It happened a few times and it’s not a nice experience. I use a formula style wheel (AR F28-SC).
AFAIK the only way, which is what I do, is to set the TrueDrive power lower, like ~50% or so(12.5NM).
Then adjust iRacing max wheel force to be lower accordingly, in your case that would be max wheel force of 40NM in iRacing to match the TrueDrive 50% change…
In theory this will clip earlier. In practice it will mostly clip in those exact situations where you want it to.
Perhaps reducing slew rate limit can help? I’m not sure at what value it will start affecting the overall feel and responsiveness of the wheel.
This is the best way for that situation, agreed 
It would actually be nice if TrueDrive/Firmware supported “strengthening” to some set amount.
So you could “strengthen” it to x NM & it would run it at the x NM power, while at the same time normalizing the input FFB to the “Overall strength” setting.
Or the opposite, so the current “Overall stength” is that value & the new setting is called something else.
Better naming would be required 8)
Or maybe the best would be that it just always would strengthen to use the full dynamic range, by internally running max NM & the “Overall strength” would simply work on the input values.
This way you would be able to run full dynamic range in iRacing, no matter your settings.
I don’t know if this 3rd suggestion is how it works already, in which case we all are already using the full dynamic range at all times. That would be nice 8)