I'd say it doesn't matter, given that I can't think of a single headphone that has three wires going to each transducer!
I'm sure that fellow is right so far as how to wire 3-pin XLR connectors between a balanced DAC and a fully balanced amp, for example, but eventually, you've got to get down to only two conductors per channel - for headphones or speakers. So, for most people, it's OK to call a four-wire headphone cable "balanced," while a 3-conductor headphone cable is called "single-ended" (or "unbalanced").
Try http://toxic-cables.co.uk - he won't get tripped up in semantics. :-)
I went to Frank at Toxic Cables and now have just received a beautiful looking balanced cable. No question that it is a work of Art.
Time to try it out to see if it sounds as good as it looks.