Alright, I did some weighing, testing, balancing and sleeve heat-shrinking and here is what I came up with:
Heat Shrink Sleeve (build 1/2 grip size), UNCUT = 9.6 grams
Heat Shrink Sleeve (build 1/2 grip size), CUT installed= 8.9 grams
Black Heat Shrink Sleeve (build 1 grip size), UNCUT = 13.6 grams
Black Heat Shrink Sleeve (build 1 grip size), CUT installed = 12.6 grams
After being installed the sleeve changed the balance point by 2 (to 2.5) points more head-light. Realize I did this measuring on a stick I do not use as it's just for monkeying around with. It's a stick that's sub 10oz so it's not realistic as most serious players don't use feathers.
On the other hand putting that on my current sticks would likely not give a perfect idea of HL balance change because mine are modified to between 12.9 and 13.1 ounces. So the best thing to do is just spend the few bucks and buy a few sleeves and see how it works for you.
Somewhat unrelated but I tried two methods of installing the heat shrink. First, the hair dryer. Sure it took a long time to shrink it all on there. Maybe 5 minutes or so and the heat was not so bad that it hurt my hands.
The second one I installed I decided to turn on the gas burner on my stove top. Put it on fairly low flame and held the handle about 24" above it. The heat is SO much hotter (compared to hair dryer/heat gun) that within seconds I had burned a hole in the sleeve!
So hair dryer or heat gun method is the only way to be assured you won't burn it.