i think that if you put it on the bottom,you can controll the balance better.
I know nothing about balancing robots, but I would tend to think having the mass at the top would be easier to balance. Try to balance a pencil on your hand, then try it with a weight on top (blob of clay), then a weight near the hand - you'll find its easier with the weight at the top. I imagine the same would be true for a robot (ie, inverted pendulum)...
