I bought a carbon telescope with a view to restoration. I am thinking of buffing down and recoating with XCR Epoxy. The telescope was obviously left outdoors at some point, some of the bolts are rusty and the Aluminium end caps are bubbling under the paint (powder coat?). I have attached pictures of the carbon, and was wondering if anyone could say what the white marks are? It must be some kind of water damage i think, and thought it might be best to get a second opinion of what, if anything, can be done about them before actually doing anything. I think I will re-coat anyway as there are loads of pinholes.

Yeh as above, I would leave it. Especially because these voids will be trapped in the low spots between the fibres, so to remove them will mean you are very likely to hit the fibres in the process and effect their appearance. 

Not an easy job, and a perfect example of why in-mould coatings aren't a great idea unless your production techniques are flawless to begin with.