ouch.... hmm .. I think your going to have to remove the caprail and grind it down a bit and re-fiberglass and the put new jellcoat on it to really fix it right. to just make it go away and make sure your not leaking there you could just remove that screw and fill with thickened epoxy and then sand smooth and touch up with jell coat or a dab of while pain the right color.
If you pull the screw your also going to need to make sure you have enough other screws or adhesive already there to make sure the cap rail doesn't get loosened there. As many screws as are in my cap rail I don't think the loss of any one would hurt though.
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