LifeIsProgramming is when programming is the most salient feature of your life.
There are a variety of causes:
Well balanced life? You mean program an equal amount in the morning as you do in the evening?
No, "balanced" as in B-trees. It's when you have your routines correctly indexed.
"Balanced" as in balanced reporting: it's when you do all the things I think you should do.
How about "balanced" as in the number of bugs fixed today is equal to the number of new bugs discovered.
"Balanced" in the emotional state between fear (which motivates you to work) and hopelessness (which makes you want to give up).
Balanced: Your two personal computers have the same amount of free hard drive space.
Perhaps he means when all the developers are scheduled at 100% load in MS Project?
A programmer has a well balanced life when he spends as much time programming for personal projects as for personal projects. You mean "professional projects"? or is that part of the joke?
Balanced: you are devoting equal development time to MacOsx, Windows, and LinuxOs. This may be forced by long (balanced) compile times. The same sentiment applies to your N favorite programming languages.
Of course, you could always GetaLife. True, GameOfLife helps while away the time when not coding.
See also ProgrammingIsFun, ProgrammingIsLife.
Contrast with: LifesTooShort