Well, not exactly Roy.
The static point of balance is where the undrawn bow balances with no drawing pressure at all exerted. It is USUALLY very near the measured center of the bow, but depends also on mass orientation.
Dynamic balance is where the bow balances at full draw relative to limb timing, and the bow and string holds of the archer.
The dynamic balance point of a bow at full draw will change when gripped differently... or timed differently.
The shift between static and dynamic balance points happens as the bow is drawn. The farther they're seperated prior to the draw, the greater the shift needing made. I suspect, even if limbs are balanced at full draw, that the more shift being made, the greater the affects on smoothness of draw, felt recoil, arrow flight, etc... but I haven't dug around in that dirt too much yet.