Maybe so, but I'd think you'd have to have a lot more than that for it to be effective, but I'd think you'd lose some of the drums robustness in the process. Since the shoes spread the drum outward ever so slightly while applying braking, I think more holes would allow it to expand easier, making you push harder on the pedal for more brake. Good things can't come of it.
Then again, I don't think you're racing it and it won't matter. Just doing it for looks then? Hope you're in a dry area or you don't ride in the rain much.