The ‘no dot’ scenario on the 312 crankshaft flywheel flanges seems to show up reasonbably often. Anytime a crankshaft with no identifier on the flywheel flange shows up, it’s worth a second look as it could indeed be a 312 crankshaft. If the crankshaft is in a position where the front journal can be seen, then the lightening hole sizing in that front journal hasn’t failed me yet for identification. For the 312’s it’s been ¾” while the 272/292’s use a 15/16” size hole.
While the 5/16” dot being present has been a very good indicator of a 312 crankshaft, having no dot present can point to a 272, 292, or 312 crankshaft. The raised dot being missing on a 312 crankshaft doesn’t appear to be a Canadian nuance as these cranks show up regularly throughout the U.S.
Here are some more links discussing identification of 312 crankshafts.
http://forums.y-blocksforever.com/Topic41587-3-1.aspx
http://forums.y-blocksforever.com/Topic47706-3-1.aspx