There's balance board support for the skiing, snowboarding, and bobsleigh events, and it works just fine. You shift your weight left or right to steer in that direction. Unfortunately the balance board has its own area on the game's main menu, and it can't be used during Festival mode or in multiplayer, limiting the use you're likely to get out of this option.
Some events have a good party game feel to them that makes them fun to play with friends for a little while. But unfortunately there are way too many misses in this hit-and-miss collection to make it easily recommendable.