This forum may not be the best place to ask but not for the reasons you think. First, I am not a moderator here, but I doubt that they will object to this discussion unless it goes in a direction that is stated as not desirable in the forum rules. One big thing that is banned is discussions about imported/hobby style machines.
You fear that the members here may not have any interest in electronics or computer code. That is not true. While some may be real novices in electronics, others are quite adept. And CNC machining, which is the current way to go in commercial machining does have it's programming aspects. So that also is probably not a problem.
However, this board is mainly for the use of professional machinists, not hobbyists. They are primarily devoted to making money in professional shops. So you may not get the types of responses that you need. Or, you just may. Don't let this stop you.
However, I will suggest another BB which may generate better responses. It is more of a home/hobby machinist board, although there are professional machinists there as well.
This forum reserved for general machining discussion. Off topic threads are allowed, but will be closed if they go too far off track or become too numerous. Please add “OT” to the title of any off topic thread. Discussions on religion or politics are not allowed.
bbs.homeshopmachinist.net
I will be following your link and may have comments after that. I am curious about the details. One thing that immediately comes to mind is that many spindles are mounted in very heavy castings which are a part of an even heavier machine. These machines are deliberately constructed to prevent even the smallest vibrations because those vibrations can cause problems in the way they cut metals. So, if a spindle is going to be balanced in place, then you are going to need very sensitive sensors. Good luck with your project.
BTW, the search functions on this and other internet BBs are rather poor. I and others have found that you can find things on the BBs a lot better by using the well known internet search engines like Google, Bing, DuckDuckGo!, etc.
I've started on an electronics project to implement a dynamic spindle balancer. I'm not going to discuss it here as it seems unlikely that it complies with the rules for this forum. On the other hand, such a device is only of interest to machinists and from an electronic enthusiast perspective not very interesting. Cost should be under $50. I hope the moderator will permit my announcement.
If your are interested you can read about it and participate here:
groups.io
Have Fun!
Reg