In today's age you can't find tubulars with a long valve? Seems like everyone is running high rims now days. That's the best thing to do. I'm a machinist, and I have done lots of work on carbon fiber racing parts for cars. IMHO, unless you can disassemble the wheel and securely mount it in some sort of workholding device, I wouldn't touch the rim with with a carbide burr. Burr's are intended to run at very high rpm's and for what you are describing you would want to go very slowly as well. You would want to be sure you were on the center of the hole too. If it's not done properly, you could eat up your rim. What I have done on small holes I have had to drill is to cover the area to be drilled with electrical tape. Then I run a carbide drill at a very high RPM. Depending on the diameter of the drill to be used. If you really want to try it on your own, I would suggest looking for a small diameter grinding stone or a small diameter sanding drum for a dremel tool. Still cover the work area with a piece of electrical tape and cut out the existing hole in the tape with a X-acto knife. This may help to minimize splintering. Then you can take some nail polish to seal the edges when you are finished. A fine grinding stone and or a sanding drum will not grab material like a burr would. and if you run the dremel slow to start, then you won't remove too much by accident. You would want to make sure to use a tool smaller than the diameter you will be working. Try to hit it by hand with an on size cutter you will damage the rim. I would not venture this unless you feel completely confident in your abilities though. I do this stuff all the time, and IMHO it would be too risky without the proper equipment and procedure to perform the work.