A method for controlling a wind turbine system, the method comprising: controlling a wind turbine of the wind turbine system to operate at a speed setting and a torque setting within a permissible operating region defined between a maximum operating curve and a minimum operating curve for the wind turbine; receiving at least one of a speed de-rate request or a torque de-rate request to de-rate the wind turbine based on a limiting constraint of the wind turbine system, wherein the limiting constraint corresponds to a current within an electrical component of at least one of a stator circuit or a rotor-side circuit of the wind turbine system, to a current within an electrical component of a line-side circuit of the wind turbine system, to a voltage within an electrical component of a rotor-side circuit of the wind turbine, to a temperature of an electrical component of the wind turbine system, and/or to an operating condition of a component of the wind turbine; determining at least one of an adjusted speed setting or an adjusted torque setting for the wind turbine based on the at least one of the speed de-rate request or the torque de-rate request; determining whether an adjustment of the wind turbine operation to the at least one of the adjusted speed setting or the adjusted torque setting would place the wind turbine operation outside the permissible operating region; and if the adjustment would place the wind turbine operation outside the permissible operating region, adjusting the at least one of the speed setting or the torque setting to at least one of a new speed setting or a new torque setting defined along the maximum operating curve or the minimum operating curve, wherein, if the new speed setting does not reduce the generator speed to the same extent required by the de-rate request and/or if the new torque setting does not reduce the generator torque to the same extent required by the de-rate request, the adjusting corresponds to a reduction in both the torque and speed settings for the wind turbine, or if the adjustment would not place the wind turbine operation outside the permissible operating region, adjusting the wind turbine operation to the adjusted speed setting or the adjusted torque setting. controlling a wind turbine of the wind turbine system to operate at a speed setting and a torque setting within a permissible operating region defined between a maximum operating curve and a minimum operating curve for the wind turbine; receiving at least one of a speed de-rate request or a torque de-rate request to de-rate the wind turbine based on a limiting constraint of the wind turbine system, wherein the limiting constraint corresponds to a current within an electrical component of at least one of a stator circuit or a rotor-side circuit of the wind turbine system, to a current within an electrical component of a line-side circuit of the wind turbine system, to a voltage within an electrical component of a rotor-side circuit of the wind turbine, to a temperature of an electrical component of the wind turbine system, and/or to an operating condition of a component of the wind turbine; determining at least one of an adjusted speed setting or an adjusted torque setting for the wind turbine based on the at least one of the speed de-rate request or the torque de-rate request; determining whether an adjustment of the wind turbine operation to the at least one of the adjusted speed setting or the adjusted torque setting would place the wind turbine operation outside the permissible operating region; and if the adjustment would place the wind turbine operation outside the permissible operating region, adjusting the at least one of the speed setting or the torque setting to at least one of a new speed setting or a new torque setting defined along the maximum operating curve or the minimum operating curve, wherein, if the new speed setting does not reduce the generator speed to the same extent required by the de-rate request and/or if the new torque setting does not reduce the generator torque to the same extent required by the de-rate request, the adjusting corresponds to a reduction in both the torque and speed settings for the wind turbine, or if the adjustment would not place the wind turbine operation outside the permissible operating region, adjusting the wind turbine operation to the adjusted speed setting or the adjusted torque setting.