Oops wasn't thinking about two stroke engines!
I don't know if you really want a burr for the transfer ports as they take a lot of metal off very quickly ,all the porting work i have done on my bikes i have only cleaned up the transfer ports and made sure the opening event of them is at the same time . I generally use a stone for the transfer ports as it is more controllable and you can dress them to the shape you need . Something resembling an egg shape is what i have used in the past for the transfers , the exhaust is a different matter for this i use a flame shape burr .
Length : as short as you can get away with , cut a length of round bar that fits in the collet and do a test run , you need it to reach in it to the ports without the die grinder fouling up , start out too long and trim to length this will give you the minimum length of burr you need to buy . I have also made an extension shaft for my die grinder , just a straight piece of roundbar that fits in the collet and hole in the end that the shaft of the stone fits neatly , some loctite holds it in and i put some heatshrink on the shaft so if it does contact the cylinder it doesn't do any damage .
Last time used one of those flexi shaft grinders that fits my dremel for the transfer ports as it is much smaller in diameter than a normal die grinder , if you look at some of the videos on the youtube channel i mentioed in my previous post you will see he uses a certain type of grinder not one of those chunky little units you buy from a harware store .
Two stroke performance tuning by A. Graham bell is worthy read , it opened my eyes a little as i had considered porting as the only power gaining modification there was , i never really paid any attention to the exhaust system , or crankcase size until i read that book !