With the power you're making, I would figure a way to not run without a keyway'd set-up. You are correct about the LT1 motors, but they get concerned with power and the lack of a keyed assembly, even when the keyed assembly is missing by design.
If there is some sort of marking on the balancer where a keyway would be (or is) and you know where the key is on the crank, you could get close by making markings on the outside of the balancer for reference.
Otherwise, get it to TDC on compression and install the damper straight up. Even this wont be exact, but it will get you close. I really would look into gettin a new damper or this one machined for keyed set-up.
My two cents.
Good luck.