As I found that former post quite interesting, I did some research and compared all the 700 and 750 twin crank cases for sale at HMC and it seems that this named modification only relates to very early 700 twins as the Trailblazer, with the Meteor engine. These do sometimes not have any drainage bores, some have a small ones in the bottom and some have both bottom and top. Later cases however, as the Super Meteor, late Trailblazer, Constellation and Chief use the two bigger (~5/16) bores as shown above. This can also still be seen on VAX and early MK1 Interceptors, while later ones and the MK1A do not have them at all!
I think there was a lot of back and forth experimenting done somewhere around the mid-50s and it seems they where ok with that configuration, as they used it for all the bigger twins from around 1958 onwards.
I might check on my Interceptor if it's the same, but keep the Chief as it is for now. If there still is any problem after revision of the top end, the two drainage bores might yet be an option, but would require to remove all the timing gears.
So long,
Andreas