I've had more than a few with it, but they were all older gloss models. Your scope was made in 1989 as per the Leupold website and your "W" code. Is it glossy or matte finish? I imagine it must be glossy. That is a strange date code considering the "VX-III" didn't come out until 2004. Prior to that they were called "Vari-X III". Check what is embossed into the Gold Ring on the objective end.
It's not really a "hole" and I wish I could track down the paperwork I have that describes it. They send me a single sheet of documentation that describes it. On the doc they say that you should avoid mounting rings within 1/8" on either side of the mark. I'll keep looking for it and scan/post it when I find it.
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