Just click an existing balloon while editing a note. The balloon will be inserted into the note.
Absolutely (if you are in SW2009). Start your note, then when you get to the desired point, go click on a balloon. You will see that balloon pop into the note and update as the BOM changes. You can also go back and do it after the fact. One of the great new features of 2009!
Great! Thank you Josh & Wayne!