Since I compost in much larger quantities, I really can't help with composting in such a small area, but I think you have a great alternative which you've mentioned - worms.

There is a Vermicomposting Forum here at GW which could be helpful. Being in your situation, that's what I would do. :O)

I try not to because my brother is deathly afraid of worms.

With the limited space you have available, vermicomposting would probably be your best bet. You can keep your worm bin indoors and save your balcony space for plants.

Fungi in the pile are normal and are nothing to worry about. The Ph of your finished compost should be pretty neutral unless you use a lot of paper or pine products.

The pH is always near neutral when you combine lots of different stuff. The pH nly tilts to one way or the other only when the pile is overloaded with, or is 100%, one thing.

Good to know that it's not irreversable.

By the way,I noticed there was one time i added newspaper and the compost smelled of METAL

Does that mean the newspaper is poisoneous?

Compost, when finished, will be neutral in pH, Any web site that tells you it will be anything other than neutral is one to stay away from since that person does not know what they are talking about. There are a number of things that can influence the smell from compost, and I have puzzeled over some, but except for that heavy ammonia (too much Nitrogen) or the putrid odors that come from a too wet compost I have not seen where most have any adverse affect on the plants. For the first 5 years that I composted, until I learned to balance inputs, I would get some very different odors, but once I learned to balance the inputs the only odor eminating from the compost is that of rich earth.