This is something I do know about having used it many times on small projects such as nativity scenes and model dolls houses for my family.
The best way of hardening and sealing balsa wood is to use cellulose sanding sealer and cellulose thinners in multiple coats.
Start off by using a 25/75% mix respectively to give the thinned out sealer chance to impregnate the very open soft grain on the wood, gradually inverting the mix after numerous coats to a 75/25% mix respectively.
After each couple of coats rub down the wood with a fine wire wool to reach a very hard and mirror finished piece of timber.
However be prepared to paint on at least 10 coats to gain a superb finish of perfection.
Jim.