You shouldn't be able to ever see those holes.
Suffice to say, my maiden voyage with my Garmin Edge 305 will have to wait until I get a new set of brake pads. The seat on my Giant is also cracked and the foam getting crumbly, time for a new seat too. I can't complain though, I got a solid 2 years of riding out of that one.
Guess I'll be riding the trainer today after all.