250 balancer/timing?

[sixbangr]

engine is out of a '76 olds, it is a Chevy 250. The orange balancer appeared to be broken . i just got one from a '75 Chevy, marks seem in the correct place. With the old one , the timing had to be advanced about 2 inches past the timing tab to run so the new one looked correct. It runs best at about 2 inches on the other side of the tab. The gears line up fine and when i put the old one on it matches the timing marks on the tab. Very confussed. How many balancers did these have? The new black one is also thinner and much lighter.