For some insight into what the factor engineers saw or were concerned with look at the changes from the 1.8T to the 2.0 direct injection turbo. On the 2.0T they went to a forged crank, oval shaped timing belt pulley pulley with two extra bolts on the flange to the damper. They also added a diamond coated washer to increase friction between the belt pulley and the crank snout.
Why? The pressure rise on the direct injection engine with a turbo is sharper and increases the amount of crank deflection. That's also why they added a sprung friction mechanism to the balance shaft drive (decoupled drive chain sprocket). It's not a bad thing, it's why you have more low end torque.
http://www.volkspage.net/technik/ssp/ssp/SSP_337.pdf
So the obvious thing is if you replace the factory damper with a light weight pulley you increase the amplitude of the crank oscillations. For the crankshaft, that in itself shouldn't be an issue, on a four cylinder there are no harmonics in any reasonable rpm range and the crank is pretty strong. What will happen is the balance shaft drive and its friction damper will get worked harder. It's a part that's already known to fail and a lightweight damper will increase its stress level.
If I was changing thing, I agree with previous posters the fluid damper is a better bet.
Also. while the forged steel crank is stronger ( and has tougher journals) it doesn't damp oscillations as well as a cast crank.
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