Does 'throttle up' mean accelerate?

Looking at COCA search results, it doesn't seem to be as common as throttle back but but it is used. Here are some examples:

Endeavour go ahead, throttle up.
Fox (2009) Space Shuttle Launch

GIBBS # Throttle up. Throttle up!
Airforce One (film, Beacon Pictures 1997)

As we throttle up, gaining elevation, the scenery changes as quickly as the canyon ride at Disneyland.
Get Your Motor Running, Forbes (2001)

I think I will argue that "Throttle up" does not mean "to increase the speed of the vehicle" despite what MacMillan might say. Throttle up definitely means to increase the flow of fuel to the engine, but whether that increase in fuel flow results in an increase in speed is a separate issue- The brakes might still be applied for example.

This is typical in aircraft operations on short runways- the pilot will want to be developing maximum power/thrust prior to starting to move down the runway so he will "throttle up" with the brakes held and only release the brakes once full power has been achieved.