Both things can be done. Questions for a beginner are, do you have all the tools needed? And (maybe more than one) cheap / disposable movements to practice? And, consider if the money and time related to solving the above can be better spent for something else still in the field of learning repairing / servicing?
I would not recommend Seiko lubricants. They don't know even say if they are synthetic based, I suspect they are not, plus are expensive, especially when bough all together do do perhaps few watches per year.. Like it or not, the best standards and range is offered by Moebius.
No just Japanese, that is the Etachron system adopted by Seiko also. The adhesive is applied with a controlled temperature. Now, cleaning a balance is a bit different than other parts, there dedicated solution but I believe that they are nothing else than hexane.