I know what you mean about a lot of re-edits out there, not just of Star Wars, but films in general.
There are some that take a hatchet and lop out a third of the movie. Occasionally it might work, but a lot of times you end up with something that feels like an edited for television version of the original film.
I know Rick has seen Balance and enjoyed it for what it was.
It was implied to me that George had seen it as well, but I'm not certain about it.