OP, the thing you have to remember is that mod balance incorporates a lot more factors than just who can beat who with what mod's weapons.
The only thing I think is really super broken about it are the collectors. They're free shit forever with very, very little setup and input. Everything else looks well balanced to me, though I haven't done a whole lot with it yet. The red matter hammer and destruction catalyst are kind of dubious though, but I suppose they aren't much worse than a mining laser on explosive, except they don't run out of uses from what I can tell. IC2 just seems a lot more balanced to me.