I guess what you want is max-cut in an undirected graph. In the given formulation, the vertices are partitioned into two sets based on whether $x_i$ is $1$ or $-1$. Then, we can see that for all edges $(i,j)$ within the same block of vertices, $(1-x_ix_j)$ will be $0$. So only those edges which are across the blocks remain in the summation. And for these edges $(i,j)$, $(1-x_ix_j)=2$. Also each edge is counted twice, once as $(i,j)$ and once as $(j,i)$. So the required cut value is $1/4$ of the summation.
For max-cut in directed graphs, look at this LP formulation for min-cut. We can modify it to get the ILP formulation for max-cut as (assuming the weights $w_{ij}$ are all non-negative)
$$
\begin{array}{rcll}
& & max \sum_{(i,j) \in E} w_{ij}d_{ij} & \\
d_{ij}-p_i+p_j & \geq & 0 & (i,j) \in E\\
p_i & \in & \{0,1\} & i \in V \\
d_{ij} & \in & \{0,1\} & (i,j) \in E
\end{array}
$$