I don't think there's anything wrong with the belt, at least not that I can tell from the pics. I think I would have replaced that pulley, too.

 

I don't have a crystal ball that tells me when a part will fail, but....

....I've accomplished five timing belt replacements on various Hondas (includes our 2002 EX & 2003 EX Odysseys). IIRC, the balancers on our Odysseys both had the same surface cracks on that rubber ring. We're still using them. Then again, as hot as Oklahoma gets, we don't see quite the temps you see in Tempe.

Regarding serpentine belts, I've never seen one that didn't show the fiber reinforcement on the sides. In fact, I just checked a brand new timing belt hanging on a hook in my garage, and you can see the same thing on the sides, as well.

OF

 

Awesome. Probably overkill, but I think I just might as well just replace it. If it were a serious common issue, it would be happening regularly to thousands of Odysseys in Arizona right? Thank you guys.

 

yeah, I don't think there has been an epidemic of the harmonic balancer pulley failing.
Every now and then I see a pic of outer metal ring separating from the inner core.
That failure could be anything from inconvenience to a full blown engine failure. It all depends
where the serpentine belt goes after it slips off.
I have seen pictures of serpentine belt getting sucked into the the crank seal area, iirc on a bmw.

Since you are doing the work yourself, its absolutely the right thing to do, better safe than sorry.

 

That sure sounds safe. It's definitely worth the peace of mind, and you're "already in the neighborhood" in terms of already having the old balancer removed from the van.

OF