Nope. that hole, if you had it, would be for capturing your positive wire lead. Air comes in
through the hole on the side of the base and then flows up the center pin/screw into the coil chamber. Your KFL+ should have an air flow adjustment screw, either on the side or bottom of the base. Adjusting that screw will require either a very small allen wrench or flat head screwdriver. Find it and back it out. If your are still getting no or very limited airflow then you've got an obstruction somewhere that hot water and a toothpick should remedy.
Crap. Just re-read yer post. If you're referring to the center pin/screw.....then yeah, it should have two holes that line up with the air intake. Find a drill bit that just barely slides through the air hole and go to town on that pin.
Unless, you have a KFL+ with a compound center screw, and your talking about the tiny 510 screw that actually makes contact with your
mod. The larger pin that it screws into is the one that should have air holes on the sides. It is a completely hollow screw that holds your positive block in place.