Adjustable brake balance bars are mechanical devices that allow you to control two seperate master cylinders for the front and rear brakes, with the mechanical leverage between the two adjustable. Often the adjustment is a hand wheel operable from inside the race car. Here's one from the most famous of brake and racing stuff,
www.tiltonracing.com:
http://www.tiltonracing.com/content....ist2&id=42&m=b
Be sure to look at the proportioning valves too. I replaced my alfa rear valve with a lever adjustable tilton valve. The balance bar was too much modification for a street car, so the proportion valve was the next best chioce.
To know how to adjust the rear balance: for a street car driven by a normal driver, the key is to prevent rear wheel lock up in an emergency stop - this will give you the best straight line stopping, and allow a little steering control during a panic stop (also, this is the mode all factory limit setups are done). So find an empty strech of straight road and do some brake tests. If the rear wheels skid from about 40 mph+, reduce the rear pressure limit until you can stop with all four wheels rolling except maybe right at the last few feet.
For race cars, the proceedure and purpose is completely different. Here the goal is to keep the car 'balanced' on hard braking in entry to a turn. Different courses have different kinds of turns and entrys, so the set up varies day by day. In addition, the car's balance changes as the 100 pounds of fuel at the rear is used up. Hence the in-car, in-race adjustments.
For a racer, the balance bar is more important - you do not want to be limiting brake force anywhere! Laps are won and cars are passed by braking at the limit deeper into the corner then him!
As Larry pointed out, the front brakes are the most important for a street car; they absorb 85-95% of the stopping energy in a straight emergency stop. All the rear brakes need to do is keep the tail lights behind the driver.

On the track, you never actually want to stop - you want to brake for a turn as late as possible and as hard as possible (that allows you to be late braking) into a turn, and accelerate as hard as possible as soon as possible going out, all while keeping the headlights and tail lights facing the right way and the wheels on the paved part.
Robert