I wouldn't use it on my gear. In the words of a friend of mine "Metho stuffs everything!"
Use an approved ball cleaner. A bottle will last for months if you're sparing with it. If funds are really short, try warm (not so warm you can't put your hands in) water and dishwashing detergent, then a quick rinse under warm running water to get the detergent out, just like your dishes.
Tape up the holes if the ball has porous material in it and either way, let it dry in a warm spot out of direct sunlight. UV light isn't terribly good for polymers if I remember some scant remnant of my high scool chemistry.