Yep. It's easy to just tape the profile you want to cut (the cut line) and then use a dremel tool with a cut off wheel to trim it. Then just use some fine sandpaper to smooth the edge. You can then spray the edge (rattle can of clear coat) to seal it after taping off all surrounding areas so you just clear the edge...that way no worry about the finish. The spraying is totally optional, of course. Done it all this way myself at times with good result.
I've dremelled CF on a few occasions, notably removing the center of my undertank fairing (the original let you see the cam cover, the replacment didn't, so I fixed that with a cutting tool on the dremel), I had to cut off some of the back of my bellypan fairing because it didn't fit with my pipe, same tool, and for Dzus fasteners on the fairing I used a round grinding tool (to bore out the hole), all of which worked quite well
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