Trying to "imagine it out", seems it would statically move the center of roll out, like added tip weight, and also tend to dynamically pull the plane out due to added drag.
Or do I have the mechanics/physics all wrong?
Terry
edit - or possibly pull it in like an "engine-out twin" effect?
Guess I don't have a clue to the physics involved!

There are several things going on. One, moving it laterally does change the lateral CG slightly, so you might have to take out a tiny amount of tip weight. You could even figure it out, the delta-CG is about, say, 1/16" with 10 ounces of motor, for a balance moment of out .6 in-ounces, divide that by 24" where the tipweight box is, so maybe you need to remove .025 ounces of tip weight. So, negligible.
What you are doing that is more important is moving the thrust line further outboard of the CG, causing a slight nose-in yaw torque. So, if you put a tiny bit of engine offset, it will come closer to passing through the CG as you want to create no yaw torque.
Brett