jon
Aero engines were pretty low revving at the time, the Mercedes D111 of 1917 was rated at 180 hp at only 1400 rpm so I doubt any complex dynamic balancing was required. Just adding weight or shaving wood of a blade would be quite adequate provided the prop was accurately mounted on a free rotating mandrel.
My 60 year old control line DH4 uses a 4 blade wooden prop.