Is it ok to run without cats and no O2 sensors. Just take them out and get rid of the wires?
No, you need the O2 sensors working on a US version KE-Jet TR (whether you have cats or not) to deal with the condition of high RPM with a closed throttle (i.e. very high intake vacuum and little airflow thru the airflow metering plates). On the F113B (late euro) KE-Jet TR (that doesn't have O2 sensors), they use vacuum limiting valves (VLVs) to deal with this particular conditon -- i.e., if the throttle is closed at high RPM (deceleration), the intake vacuum goes high and opens the VLV which allows air to bypass the throttle plate (so this increases the deflection of the airflow metering plate). The US version TR doesn't have these VLVs, and relies on the O2 sensor feedback to prevent "excessive mixture lean-out" in this deceleration condition.
If you still have the VLVs in place that would make it more palatable, but I don't know if the difference between the two ecu types is significant for this condition. Are you having some "difficulty" that you think will be improved by eliminating the O2 sensors?