My technique is to drill 1/2" hole straight thru the deck. Then I have an allen wrench that I've ground the short end down to a beveled stub about 1/4" long. I put the long end of the allen wrench in a drill chuck, turn it on, and use the sharpened end to cut out the balsa 1/4" in all around the hole. This creates an undercut that widens the resin plug and holds it firmly in place. Vacuum out the undercut.
Tape the hole on the inside and fill the hole and the undercut with thickened epoxy (I use West System with 406 filler) -- be sure it's just thin enough to flow into the undercuts (though you can force it in with a small tool).
When the epoxy has kicked and cured I remove the tape, and drill a small pilot hole from the underside half way through, then a pilot from the top till I feel the first pilot -- almost every time, I'm straight through the center of the resin. Then larger bits till you get to the size you need. It's bullet proof and any leaks are harmless to the core.