440 Harmonic Balancer Timing Marks Off

"180 out" is a thing that happens when the distrib is installed when #1 is not on the compression stroke. with the dot on the crank gear at 12 oclock, the dot on the cam gear is at 12 oclock 1/2 the time , and 1 rotation of the crank it is at 6 oclock . install the distrib correct and it is fine. If the balancer has slipped-do not use it. could the balancer and the timing cover be mismatched? I do not know, not a big block expert-it can happen on a small block