Weep Screed with no visible holes 
The holes in the weep screed are not the weeps. The weeping happens along the edge of the screed where the stucco ends. The holes are actually there for gripping by machinery during manufacture. Some manufacturers have stopped making the holes as they allow insects easier access and do not serve any useful function. If water reaches those holes while weeping, there is something wrong with the wall construction anyway. The WRB goes on top of the accessory.
The holes are a ‘keyway’ that helps the stucco to bond. They are not there for water to weep through. The weep screed is angled out at 45 degree do that the moisture drips off the end of the metal, not through the keyway holes.