The main technical concern is probably going to be the potential of overload from the heavy EDM bass.
As long as the mics or signal chain which follows them doesn't overload while making the recording, you're better off reducing bass levels afterwards as necessary along with doing whatever other frequency correction or sweetening is needed using EQ, where you (or your audio editor friend) can do so in a controllable way.
Getting close to a PA speaker will make for a drier and more soundboard-like recording with less room and audience in it if that's what you are after, in part because that proximity to the PA increases SPL from the PA relative to the other sounds in the room, but that increased SPL will also increase the potential of overload. You may need to do it a few times to figure out if results from the balcony is better than on the floor directly in front of a PA speaker, and how close you can get to the PA without overloading if you find you prefer that approach. If there are stereo panning or other stereo effects you want to preserve, then you'll need to record from a more centered position where you have a direct line of sight to both left and right PA speakers. You'll inevitably get more room and audience sound from such a position, but the front center of the balcony is often a good spot as it has a direct line of sight to both PAs and puts distance between you and the audience below.
Good stuff. Much appreciated. Sounds like some tests in the venue and similar conditions will be fruitful
Good luck. The Shure (which I own) works and is the low-impact solution. I'd say only that recording this type of music (which I have) can be a little dodgy in general, in that (as you probably know) a rather large % of artists are playing pre-recorded music only. Not at all harshing on the genre, but I would try and do some research and see which artists actually constitute capturing a "live set" versus "pre-recorded sequencing on Ableton from a MacBook Pro."