[raymo]

Hi Clay, Firstly, as far as I recall, the EQ5 has a payload limit of 10kg.
An 8" f/5 Newt weighs about 9 to 10kg; with the finderscope and a
2" eyepiece, and any other small accessories such as filters, or a
barlow lens, you'd be over the mount's limit. That being the case, the
supplied weights might not be enough to balance the load. An EQ5 is
not really suitable for an 8" longer tube type of scope such as a Newt,
[which is what I assume the Velocity 2001 is], and definitely not for
astrophotography.
When you say you have the RA balanced, I think you mean the Declination. The counterweights work on the RA axis.
Had a look at some reviews, and you are not the first to complain of insufficient counterweights. I suspect that this has come about
because Saxon has paired the mount with a scope heavier than the mount was designed for.
raymo