All first stages are open when they are unpressurized. This is because it takes a certain amount of air pressure acting on the valve to close the valve.
In the Mk 2, the seat is on the end of the piston stem (think capital T with the seat on the bottom end of the T with the cross bar on the T being the piston head).
The tank pressure pushes on the bottom of the T and forces it off the orifice. Air goes through the orifice and enters the intermediate pressure section of the regulator. A small hole in the side of the T allows air up through the center of the T and out the top of the T. Air is then trapped in a compression chamber on top of the T and pushes it back down against both spring pressure and the air pressure from the tank.
This is where the "unbalanced" part comes in to play. When the tank is full there is simply more pressure pushing up on the seat, so it takes a bit more air pressure on top of the piston to push it down and close the valve. When the tank is close to empty, there is less tank pressure pushing on the seat and it takes less air pressure pushing on the top of the piston to close the valve.
What this means is that with a full tank, the intermediate pressure (IP) on a Mk 2 is about 145 psi and with a near empty tank it will drop t around 120-125 psi.
If you have an unbalanced second stage attached, it is essentially a rinse and repeat process as the higher intermediate pressure provides more assitance to open the valve in the second stage. So at lower tank pressures, you have less IP and less downstream force assiting in opeing the valve. That requires a slightly higher inhalation effort to open the valve. If you have a balanced second stage, there is not much difference in the downstream assitance and the inhalation effort is about the same.
In a balanced piston first stage, there is a sharp end on the end of the piston that acts as the orifice and it sits on the seat. The tank pressure comes from the sides of the long end of the T near the T and does not apply any upward force on the piston. The area of the piston stem/orifice on the seat is the same as the area of the piston stem where it passes through the first stage body, ans since the area is equal it cancels any differences in pressure.
In a second stage the same thing happens. The seat sits on an orifice just like in an unbalanced reg, except there is a small hole in the seat that lets air pass through to a sealed balance chamber on the other side of the valve. This puts equal air pressure on each side of the poppet assembly that holds the seat, so again the pressues are equal so changes in IP have no effect.
This link should clear it up for you:
http://www.scuba-info.com/scubaregulators.html
The first one is an unbalanced piston just like the Mk 2, the second one is a balanced piston like the Mk 25.
The third and fourth drawing are unbalanced diaphragm and balanced diaphragm (like the Mk 17) designs, but since it is really easy to balance the seat carrier on a diaphragm design, no one makes an unbalanced diaphragm reg.