May not have a clear pic. of what you are asking. The balancer is keyed to the crank. So only one spot it can go. Possible that the the outer ring of balancer could rotate against its hub. I think I have read that but not 100% sure. That will have nothing to do with existing timing as timing is all internal. In theory if one was using a strobe timing lite things might appear differently than they actually are and if engine was opened the cam position would be different than mark indicates but engine would still be in proper time. If balancer is located by a dowel to the hub then the timing mark should be correct. Only way to change timing is for the timing chain to slip and that does not make sense based on removing a bolt. If you slid the old balancer on the mark should be in the same spot as the new one when aligned on the dowel, otherwise the old balancer slipped? Is that the reason you are changing it due to possible belt squeal from a slipping balancer- happened on our old 92 trooper 3.2 engine. The external belts have nothing to do with engine timing as they only turn accessories but do not time the engine.