I may be guilty of just repeating something I "learned" long ago (and therefore
must be right), but I always thought the term "balanced" (insofar as it applies to transmission lines) came from the simple idea that both conductors had the same impedance, that send and return were equal in amplitude with respect to a common reference, and that they were opposite in polarity. Equal but opposite = Balanced.
If that's true, couldn't a cable still be called "balanced" even if it was used improperly (e.g. pins 1 and 2 shorted on a microphone connector)? IOW, is the cable called "balanced" because of its design, or because it's normally used in a balanced circuit?
It seems to me that the term "balanced" does not explicitly imply twisted pairs, either. A length of Romex coming off an isolation transformer could be called a balanced circuit. Equal impedance, equal amplitude with respect to ground.
At the end of the day, all that matters is that the salesman at Guitar Center will not know what the heck you want unless you say "TRS to TRS" or "XLR" or just "microphone cable". He can then figure out what to sell you by reading the packaging on the Monster Cable rack.