I dug into it and the balance shaft tensioner pulley is slightly loose and slightly noisier than the others so I'll go ahead and replace it.* It's a bummer since I did everything less than 15k miles ago (and I've had this noise on and off in the past over several belt changes) so maybe I've just ended up with a bad pulley or two over the years?
Anyway, I'll update this when I replace the pulley. It's not an expensive part so it's worth replacing it for trouble shooting.
BB.
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Some say "My car is a Porsche!" I say "My Porsche is a car!" and I drive the hell out of it. 
'87 Porsche 944; '10 BMW 328i xDrive (her's); '98 BMW 323is (ours)
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