There are a variety of ways to dynamically balance a blade assembly but all of them come down to one simple fact: you must turn the fan on, inspect it within a strobe and then adjust the pitch fore and aft as well as the clock left and right for each blade.
By placing different colored pieces of tape on the leading, top and trailing edges of the fan blades you can differentiate between each blade when its running with the strobe. To set the strobe, first you need to know the RPM's that the fan runs at. This is accomplished by moving the strobe from zero to whichever RPM stops the blades from moving. You know when you hit this speed because the blades will slow down and then stop.
Next step is to multiply the RPM's of the fan by the number of blades. In the case of this pancake fan, max speed was 1500 RPMs, so multiply that times four and you get 6000 RPMs. If you set the strobe to 6000 RPM's you notice that the blades appear stopped, but each blade (made obvious by the colored tape) is super imposed on top of each other.
Once you have achieved the condition described above, it will become very obvious if a blade is out of clock (it will appear left or right of the other blades) or too far forward or back. Stop the fan, knock the blade into position and inspect again. When I say knock the blade into position, I really mean it! I use a 2x4 and give the blades a darn good WACK if it's out of clock. If the problem is that the fan blade is too far forward or back then just use your hands to bend the blade finger forward or back to adjust.
I strongly urge you to post questions to this blog and I'll do my best to answer them. I am also happy to post more videos so just let me know what you want to see.