Crankshaft Balancing Question

If there is no heavy metal slug under there, and just a weld of some added weight for a small adjustment, then that is acceptable.

If there is heavy metal under there, it could be better done but is not the worst direction; centrifugal force is not pulling straight out on the slug.

No but it sure would be better done "correctly". I have seen some OLD NASCAR and NHRA stuff at swap meets before that looked similar and worse. It worked. It'll still work, but it's kinda like camshaft technology. It's come a "long way".