Just from what I have learned thru experimentation, weight holes have many names. Balance holes; X-holes; double thumb holes; motion holes; they are all the same just used for different purposes and different effects.
From what I have learned, the lower balance holes, (ie:double-thumb holes) tend to make your ball read earlier, but give it a strong, dynamic angle of entry on the backend, usually fairly angular.
Whereas the smaller, X-holes further from your fingers, and closer to the val tend to re-shape your hook/arc, dependent on whether you move it north-south, or east-west. Moving it north on or near the val, tends to push my breakpoint further down lane. Smaller weight holes for me tend to make for a sharper, more distinct move on the backend. Widening my holes increases flare, usually, but on some balls with a big core it actually stabilizes, or smooths reactions.
This may sound strange but a big weight hole can increase flare but smooth reaction, so much so that the ball seems to "walk to the pocket.
There are a lot of factors to take into account, including cover prep, and core engine when you use a weight hole to shape the reaction you want. You should experiment.....it's fun to get so many differnt looks!
P.S. Thanks for the video DP3! This vid kind of explains why I tend to like certain weight holes over others. Since I am a straighter player, I would tend to be more comfortable withe the decreasing and higher weight holes, rather than the lower flare increasing ones. It all makes sense!