[Exmortis]

It depends which standoff, is it close to another so theboard is still supported? Or is it all out by itself. I would remove the stand off if it is metal, if I though it wouldnt weaken the board too much. A short is bad news. Usually you can find another screw that fits in the slot. Some of your mounting screws for other hardware will fit, do not force a thread that doesn't fit or use a screw that will not tighten.

Good luck!