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Hmmm, just noticed the title of your thread says its popping through the carb but in the body it says popping through the exhaust. Both???

I know you said the marks are aligned, but this would be my first guess. The other distinct possibility is that you might have a couple of the plug wires mixed up. Popping through the exhaust happens when the plug fires when the exhaust valve is open so something is definately wrong there.