Here is the "Outer Vent Control Valve". It is made to vent gas fumes from the bowl and the carb and has a little plunger that goes in and out when it has 12V to it or not. Venting vapors to a charcoal canister is not necessarily a bad thing but the problem is with the little hole in the passenger side of the inner carb casting. Fuel dribbles through this hole from the float bowl when you are laid over at an angle on your passenger side and it will flood the carb.
You can see the passages in the pics below and I also point to where the little problem hole is (last pic).
The solution I found was to simply block the flat passage right on top of the float bowl (2nd pic down) by jamming a bit of squished fuel hose in there flat. This way it doesn't really interfere with the valve plunger that lives in the in the round hole so you can still close it all up by putting the valve back on. A guy could make a block off plate if you wanted. I suppose you could just JB weld the thing shut too.
Anyway, now we can lay way over on our drivers and passengers side with no flooding!