The weight went on the flexplate in the later Magnums ...... Early Magnums and LA's had the weights on the TC from the factory... as I understand it.
People will switch to an external balance flexplate (like the B&M types) and a neutral balance TC for convenience in getting a variety of TC's.
And yes.... we really don't know what is inside. YR, do you happen to have weight specs on those pistons in this engine? TRW L 2322, probably also the same pinston and number under SpeedPro. If so, I can double check against stock 340 piston weights.