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We have just composed a 3-level Bill of Material that looks pretty good. However, we are next seeking an answer to that same question and thereby came across your inquiry. Even though no one has yet replied in this forum, have you ever found a method for placing proper balloons for your nested bill of material?
What is the reason for doing a nested repeat region? I don't think you can add proper BOM balloons for that, but if you instead use a recursive repeat region, there are no problems with adding BOM balloons. Just use a regular BOM and go to Repeat Region -> Attributes -> Recursive. If you want to limit it to three levels, you can do that with Filters. If you want it indented, you can do that with Relations. The only reason I can see for nesting is if you want different columns for your lower-level items (but perhaps there are other reasons).