The version I saw of this very obscure title, ran roughly 58 minutes, so I'm not sure what is missing from this print. This site lists the original run time of 73 minutes. If plot and story was cut, then I would surely love to see this in it's full length version.
"Blue Balloon" is sleazy, grindhouse porn, to be sure. But the storyline does draw you in, if you let it. This young woman is spotted at the airport, by a truly despicable woman in a wig and dark sunglasses, who pretends to be concerned about the girl's welfare. Having just said goodbye to her boyfriend as he goes away to the army, she is distraught, and allows herself to be drugged and taken to a seedy apartment. She is kept high on marijuana joints laced with heroin, in order to keep her in line, as she is repeatedly raped by paying male customers. At one point she escapes, but her new addiction keeps her working the streets, until one night a familiar face reappears..
These 1970's exploit films sometimes have this strange, atmospheric quality, and "Blue Balloon" is certainly one of those. If there was just a little more story, or some more non-sexual scenes, this could have been better. And I suspect that the long version might be just that. Even so, this is a curiosity piece that will be interesting to fans of vintage grindhouse cinema.