I'm going to be cynical and say this was a publicity stunt by the parents. With the demise of Jon & Kate, they saw yet another opportunity to get back on TV. This family was once on an episode of Wife Swap.
The child was never in the balloon, and Daddy knew it. He wanted to show off his balloon, and get the cameras on his camera-ready family. He even posted videos on Youtube, of his family chasing storms, and his boys rapping.
Mark my words, they will have a show on Discovery or TLC in the very near future. Whatever!