aakk9999 - 1:36 pm on Oct 14, 2013 (gmt 0)
This would be an interesting test. And I agree, a big risk.
If I was Google, I would have some kind of flag alerting me when the subsequent disavow file has dropped links reported in a previous one. But they may or may not have this alert.
If they do, there may be a manual penalty applied if they think you are trying to manipulate the ranking in this way.
If they don't, I would guess that when the second disavow file is processed then you *may* see maybe increase in ranking at first, and perhaps followed by fall in ranking when the Penguin is re-run, if you get caught by Penguin with cut-down disavow file.
If anyone has tested this, please share.