-I don't remember what Luin's Balance mod does, and a quick research break couldn't find out either. Consider it a mystery.
Let me chime in for the sake of clarity. I'll try to be as brief as possible.
My mod was an attempt to highlight underused mechanics, make difficulty curve more consistent and make certain challenges/achievements less boring to complete. Overall, I wanted to make the game less punishing and more meaningfully hard.
Specifically, my mod makes all npcs slightly faster and increases health gain per wave, more after 20-th wave. Some npcs get their attacks modified: zombies are faster, charge more often and fall from being hit more frequently, flies charge slower and deal almost no damage with attacks, dogs are way faster and jump further, litigants are slower and attack less frequently, Jackys are a bit slower, trappers place their traps further apart, poison darts deal almost no damage. Some drugs are weaker, others are cheaper. Ammo costs way more, but ammo boxes drop more frequently. Charge costs less, lasts longer and has more invulnerability frames. Strength damage is tied to your health (you receive 25% damage on full health and 125% on no health). I also buffed (damage, penetration, ammo capacity, reduced cost) nearly half of the weapons, especially those that were performing badly. Some weapons were slightly nerfed. Nearly all weapon classes had their reload times and starting ammo amounts changed. "Mind broken" and "Hypnosis" challenges only require half the effort to complete. Final challenge unlocks all clothes, including a set of clothes that exists but is unused in other challenges.
If I'm not forgetting anything, that should be all. I know many people have been complaining that the game is too hard. I don't share that sentiment. If anything, I think in its' original state it was a bit too easy and risk free once you figure out your "rotation". It also was pretty solid in terms of game design, so I didn't feel the need to change much, just some tweaks to smoothen the experience.