well, i am having issues with my rpm/speed...and last month, the bottom of the muffler almost fell off, and I remember that my speed was hindered then too...i was wondering if this hole is causing air flow problems and thus causing rpm/speed problems...
Easiest thing to do is use the non-fluted side of a drill (end that goes into the drill chuck) and check the fit on your jet. Once you find the drill that fits the jet orifice, solder the hole shut and redrill with the next smaller size number drill. Wrap the drill bit with duct tape and use your fingers if possible to re-drill the hole since solder is very soft.
I'm sure the other guys on here have another way of doing though that might be easier.
I have use JB Weld in place of solder and had great results.
If gas is coming out the tickler closing it up might solve the problem of gas coming out, but it is NOT going to solve the problem of WHY the gas is getting high enough to come out of the tickler. A properly set float will not let the gas level come up high enough to come out. An improperly set, high float level will make the engine overly rich.