Unless the aftermarket manufacturer's instructions specifically recommend it, DO NOT use heat to remove the balancer. That usually damages the balancer.
DO NOT use a hammer to replace it. You will damage the balancer and the rear main bearing which takes the thrust in a Gen 1 and Gen 2 SBV8s.
I suggest not using a simple bolt to "pull" the balancer on. If you insist on that, do not reuse the bolt or the washers used to pull the balancer on as the fasteners which permanently attach the balancer after it's seated on the crank snout.
To remove the balancer, use a puller intended to remove harmonic dampers. Don't confuse that with a "steering wheel puller".
To install the balancer, use one of the ball-bearing equipped damper installer tools.
Using those proper tools you will insure no damage to the balancer, the rear main bearing or the threads inside the crank snout during removal and replacement.