Holleys are no different than any other carb. Rarely does a PV blow out.
If his valves aren't adjusted right it could cause a host of issues indeed. I'm also wondering if he's sucking oil thru the intake. This could cause some detonation issues.
One thing you do have to check is if the choke is getting sucked shut under WOT and load. I wired mine wide open after an issue at the track.