Guys, first of all thank you all for the detailed information provided. I think I'm finally starting to understand the principles behind supercapacitor protection. The main issue was that there has been some confusion on my end regarding what the protection circuitry is supposed to do. I was trying to fit too many apples into the same basket. Thus, the point here is that there are *two* things to look out for - balancing and charging.
Balancing:
Balancing is the act of keeping voltages across multiple supercap cells roughly the same. My misunderstanding was not the act, but rather the cause. I believed that balancing should be performed only as a result of supercapacitors having variation in their capacitance. This would supposedly cause voltage imbalances on cells during charging (or discharging). While technically true, there is more to this story. What we are also trying to balance are voltage differences that arise as a result of current leakage of individual cells in the bank. Different cells have different leakage, meaning, that if you were to charge all cells to exactly 2.70V and leave them idle for a while, the voltages on them would begin to slowly decrease and diverge. Supercapacitor balancing is simply the act of preventing (or reducing the impact of) these occurrences. It does not take into account large capacitance mismatches, hence the balancing normally involves very low currents. Thus, the SAB mosfets only address this category, but not the second.
Charging (and discharging):
This is a totally different beast. It involves protection against faults like overvoltage while charging, and undervoltage while the bank is being discharged. Consider 4x100F supercap cells in series - C1, C2, C3 and C4. Now suppose one cell, C2, becomes faulty or somehow defective, and it's capacitance is now only 60F as opposed to 100F. Charging the bank will now cause the voltage on C2 to reach its maximum rated voltage (2.7V) faster than the other cells. If the charger now tries to charge the bank up to 10.8V then excess energy will be forced onto the damaged cell, causing the voltage to rise beyond safe levels. This can quickly lead to bank failure. Likewise, a faulty cell with smaller capacitance will also discharge and reach its minimum allowed voltage faster than the rest. If the bank is discharged further, other cells will now push the current into the faulty cell, lowering the voltage even more and potentially resulting in negative voltage being applied to the cell. The solution is to monitor the voltages of individual cells rather then the bank as a whole and stop the dis/charging once at least one cell reaches its minimum/maximum rated voltage.