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From my understanding and looking at my manual, the 180* alignment is simply so you know which cylinder is at top dead center when the balancer alignment hole matches the alignment marking on the front of the engine. If it is installed 180* out of rotation you'll simply have a different cylinder at top dead center when the alignment markings line up compared to what it would be from the factory. The hexagonal key is symmetrical with the two flats the balancer slides onto, so it wouldn't necessarily effect the oil pump either.
With regards to "true dead center", there are only two ways the balancer can go on. The correct way, and 180* out of rotation. Either you have it on correctly, or a different cylinder will be TDC than what is expected. If you know cylinder 1 was TDC when you put it back on and aligned the markings then I would call it good.
And for the record, my manual does not say which cylinder is TDC when the markings are aligned. It simply says align them before pulling it off, and align them putting the new one on.
With regards to "true dead center", there are only two ways the balancer can go on. The correct way, and 180* out of rotation. Either you have it on correctly, or a different cylinder will be TDC than what is expected. If you know cylinder 1 was TDC when you put it back on and aligned the markings then I would call it good.
And for the record, my manual does not say which cylinder is TDC when the markings are aligned. It simply says align them before pulling it off, and align them putting the new one on.