what venue?
the only folks who may be able to venture more than a guess about how it may sound are people that have been there before. How high is the ceiling above the balcony? if the ceiling is high it can sound very nice in balcony's... if it's low your luck may not be as good. Also, how high off the dance floor is the balcony? Where is the PA in relation to the balcony? You say one meter below, does this mean there is no sound reinforcement specifically for the balcony?
so there's no way to setup near the light guys? You have a pretty little rig I bet you could find a spot over there if you got there early, and were courteous. Just bring extra cables and run your MD away from your mics.
if you can't get center then get up on a stack and setup your mics in a stereo configuration right in front of the stacks, not "point[ed] in the direction of the singer". Mics are not flashlights, you're not aiming a narrow beam.