There is something seriously amiss here. There is no way you should be getting those large swings in AFRS especially at idle. Do you have another known good carb to put on to see if it fixes this anomaly?
If it were mine I would baseline the carb with what a similar holley would have both in the jetting and air bleeds and stock holley emulsion. Can you provide a log with just idle and transfer fueling before the primaries begin to flow?