Quartz watches and demagnetizers
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This is the best option - if you have a lathe. For those of us without, I use a Balance Staff Remover as shown in your pic. Using this, I have not seen any damage to a balance. Rolex recommend just pushing it out as their balance arms are quite hard. But, as @Klassiker suggests, do a search of the forum and you will find plenty of discussion.
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This has been discussed in great detail several times already. All of the methods you mention carry some level of risk. If you search for @praezis posts on the subject, you can find convincing arguments why cutting off the hub (not the rivet) is the safest method.
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I'd thought the same along with the fact that they'd already stated the train ran without the balance?
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