yes ive done it, ive used both threaded holes with a tap and a clinchnut (thread insert) banged into a hole 1/2 mm that the nut (thread insert is far superior)
never had to balance just like ive never balanced a wheel because ive lost a centre cap (the centre and the bolt will be elsewhere when its on the machine anyways so the gram or 2 of alu wont make any odds) then a good sized bolt with a wide top otherwise a tug will have teh cap gone ether its got a bolt in ot not, i like these but stainless
http://s7g3.scene7.com/is/image/ae235?$p$&layer=0&size=281,281&layer=1&size=281,28 1&src=ae235/64094_P
biut security bolts and cooler and with a good sized head wont be pulled over (st centre caps are plastic aint they?)