how i marked my balancer for tdc was by using the dropped valve method, if adjusting valves too get all the valve covers off (otherwise just #1 and #6) and watch for both rockers to be in motion on #6, using a magnetic base/dial indicator and over the top spring compressor you can pull a rocker and compress a spring on #1 and let the valve drop enough to sit on the piston (i left the compressor on the spring and let it ride the valve) find the spot where the valve is at the highest point and that is pretty much tdc but not good enough for timing, to capture a better measurement make a pointer for the harmonic balancer (piece of coat hanger will do if permanent is not desired), zero the dial indicator then back up the engine till the valve drops a certain amount say . 050, mark the balancer and advance the engine till you get to zero and then back to . 050 and mark again, split the difference of the two marks should be perfect TDC, you may want to measure a couple times to verify just because... .
another way is to adjust a valve on #1 till it hits a piston mark then back up a full rotation till it hits again and mark
keep in mind if you remove the balancer your TDC mark will no longer be true as the holes are slotted, a couple alignment marks for the balancer help for that
valve adjustment, do the companion cylinder to the one that both valves are in motion to 1/6 2/5 3/4
this info is verifiable with a search of TDR and has been used a a few times by me on 1st and 2nd gen 12v's with success