I think you meant Brawl+. BBrawl does not have l-canceling of any variety, just like regular Brawl.^^Also, the amount that the l-cancel took off wasn't arbitrariy--it was 1/2 the lag.
In bbrawl,
"It's universal. It makes EVERYONE'S aerials better. Though the extent of it varies. Not every character gets 50% lag reduction for obvious reasons. Some may have more then a 50% cut, others may have less."
While it might be easy to lump them together as "the hacked versions of Brawl", BBrawl and Brawl+ actually have little in common despite their similar origin. BBrawl stays true to regular Brawl as much as possible; in fact, aside from a few blatantly obvious changes to certain characters, casual players who played Balanced Brawl probably wouldn't even be able to distinguish it from regular Brawl. This isn't to say that the changes aren't noticeable or significant, because they are, but only competitive players have the knowledge necessary to really notice and appreciate just how much of a difference all of the small, subtle changes make.
Brawl+, on the other hand, changes quite a lot, and the differences are readily apparent.
Which one you enjoy playing (if any) falls to preference, obviously, but people should be aware that there is a great deal of difference between the two. This isn't necessarily a bad thing, I merely wanted to point it out just in case anyone had any misconceptions.