ok well if the carb was flooding then there may well be petrol in the exhaust as this is where it would end up after being in the crankcase.as for the revs being high i would say you have either put the throttle slide in back to front or there is a big air leak due to the carb not being fitted properly or possibly the throttle cable isnt in the top of the carb properly.the air filter will have got soaked with fuel if it flooded too just wring it out and put it back in and dont worry about the fuel in the exhaust it will just blow out and evaporate.male sure the cut away at the bottom of the carb slide is pointing towards the air filter.
adam bike doctor
March 2010