Im sorry what do you mean slingshot? Or vc?
There are two types of engine fitted to the 400's. One is a standard engine with 2 valves per cylinder, the other has variable valves. This opens just two valves (one inlet, one outlet) at lower revs (pre 8k) then after that figure the VC unit would kick in and would instead utilize 4 valves per cylinder (two inlet, two outlet). This provides improved air flow, and helps achieve a more complete burn, which in turn produces more power. Mk1 B4's had VC attached to both inlet and outlet cams. The Mk2's only utilized VC on it's outlet cam.
There are a few ways to tell apart a standard (non-vc) engine from a VC one. Normally the standard engine is painted a sandy gold colour like so:
A VC engine is normally black with a red rocker cover, hence the nickname "Red Top".
The VC engine also has the letters "VC" stamped on the sides just below the rocker cover (as shown in the picture above).
Being a 1992 yours is a Mk1 bandit, so it should be running a Mk1 engine, however these bikes have been played with so much that it may have an engine from a Mk2 fitted.
On another note, having a "super loud" exhaust doesn't mean it requires more gas, it just means you've either got a race/straight through exhaust fitted, or you have an airleak in the exhaust manifold.
Bullet5.