If your unit is low floor I think it is alright, but if high floor, climbing on the ladder and looking downwards while cleaning the fan blades may be a daunting task & dangerous
Aesthetic wise:-
I think it is alright if the ceiling fan design blends in with your balcony theme & also living room when you look outwards. Etc having Chengal wood deck in the balcony, having some potted green plants in planter area, have a Zen-like Mini cascading fountain set & have an outdoor resin furniture set in the balcony area would create a very Balinese & resort feel to your balcony.
check this out === >
http://www.ohmm.sg/
I also thought of having a fan in balcony too but the pros is that it may attract unwanted attention when people glance at your stack
, your unit would stand out from the rest as most units would only go for default standard light installed at balcony ...
There is a unit at Blk 50, Stack 1 or 4 High floor unit which have a similar "fan concept" done up. Check it out......