I think registration events are detrimental to the server. Registration seems to be regarded as a medal, but that usually comes after you participate in a 'battle'.
The concern with balance on two sides is quaint, but the wrong concern in general. When people see an event they just might want to show up, so registration usually does mean locking down a system or area, where people would come to watch or join. I always felt registration just pushes away most people that would show up last minute. Long story short, registration events don't do anything for server population in general. Having a battle to jump in on used to be what people would log for, most don't really want to register in advance just to make sure they don't fight an uneven battle. Helping a side gain numbers and win should be the goal! It can happen to either side.
Events should be to pump some life into the server, used to get people online. When events are regarding a real issue, with real stuff at stake, people will fight for that issue regardless of the odds being against them, like in reality. To me, events only make sense if they are just to start things off and let more and more show up. Since when did space turn into a midieval space jousting battlefield with even amounts of knights on either side? So there is a way for events to really bring people in and online, registration is just another barrier to getting actual functionality out of the server.
There should be nothing on the server people would be kept from, if your side winds up outnumbered, there's always the next battle. Ban registration, have only open events over serious issues and we'll start seeing some real action going on again.
Here's a suggestion, bring in that FR6 and battle/siege events would be open to all, ongoing and regular occurances that unfold according to an active story... and always provide a reason to join the fight and keep fighting despite being outgunned or outnumbered. Just make an important issue and let people show up based on how much they care.