What are the risks to a balloon that enters IMC conditions? Mid-air collision with other IFR traffic seems obvious. What are the other risks? It seems like losing control because of losing track of what direction is "up" is unlikely compared to an airplane or helicopter.
I assume most balloon pilots have GPS and a map that lets them track the elevation of the terrain under where they are (and where they are headed) and avoid some hazardous places to end up (middle of a substation comes to mind).