I was wondering if a light profile barrel can be fluted, or would that cause unintended disasterous consequences? Thanks for your feedback.

Why would you want to, it's already lightweight?  Fluting is best for heavy barrels that you want to lighten, or to have a barrel that's a little heavier and stiffer, but with a weight closer to light.  It's best to treat flutes as fins on a barrel.

Only H-Bar's or medium-weight barrels can be fluted.

Vietnam-era "pencil" barrels and 16" carbine "superlight" barrels are as skinny as they can get and still safely handle the pressure that a 5.56 creates. Cutting flutes into these barrels would be dangerous.

The same is true of 20" A2 profile and M4 barrels under the hand-guards; although, I have heard someone propose fluting a 20" A2 barrel IN FRONT OF the hand guards.

Thanks for the comments. I'm just looking to shave ozs where I can.

Look at BM's Carbon-15 Ar's  they have a special fluting that reduces about 1.5OZ that can be applied to pencil barrels.

Not that the 1.5OZ is worth it.