Hmm - I actually stopped playing this game a couple of months ago. Recently however, I received a couple of emails from people wanting to get this mod working.
Let me say a couple of things:
1) DONT USE IT ON DISCOVERY SERVER YET!
It is an unauthorised mod, and as such will get you automatically kicked off the server at best - banned at worst. If you want to muck around with it - use Open SP - same as any of the other experimental mods like Camera Zoom and Camera Unlock.
2) Balance? I put it to the skeptics that balancing wont be as onerous as people seem to think. My own testing indicates that a change in tactics are more important than changes to the actual ships.
Ships with a lot of forward-firing guns are perhaps the most vulnerable to the Turret View Mod. That being said, what they would lose in offense against other caps (who would be better able to dodge) they will gain in defense against snubcraft (being better able to use their rear and side fire arcs).
As for balance against snubs - as I mentioned before I believe the key is not in the ships, its in the guns. I would push for a slower projectile speed for Cap Primaries (as they are no longer required to act like a mobile base, sitting relatively still or travelling in predictable paths).
To conclude I say again - I believe the increase in gameplay value outweighs all other considerations. I would actually consider playing this game again if it got implemented. Once I tried the mod - I realised I couldnt go on with the current system.