You could probably drill with a 1/8" bit in the very center and then use that as a guide for a 1/4" bit to get the rest of it out.
Black would probably be best as it would hide the glue lines around the edges of the pins the best.
There's also always the option of coloring your epoxy white should you want to use another pin color (or just to make the glue lines as hidden as possible). I have different color dyes and little baggies of different wood sawdust types that keep around for just such an occasion.