Wordnet 3.0
VERB (2)
1. 
 move quickly to another scene or focus when filming; 
- Example: "`cut away now!' the director shouted"2. 
 remove by cutting off or away; 
- Example: "cut away the branch that sticks out"
WordNet (r) 3.0 (2006):
cut away
    v 1: move quickly to another scene or focus when filming; "`cut
         away now!' the director shouted"
    2: remove by cutting off or away; "cut away the branch that
       sticks out"