No, the Proraso white balm has a faint scent similar to the tub soap, that dissipates within minutes. Good for people who don't like strongly scented stuff or want to use a different scent on top of it. In contrast, the AS lotion has a fairly strong cologne scent that also lasts for hours.
To me, the white balm smells citrus-y and a bit 'green', if that makes sense. It's a fresh, faint scent similar to the other products from the white range. It seems to last about an hour on me, but you'd have to be close to smell it.
I haven't used the balm in the summer yet, but I'd imagine it would work pretty well all year round. The splash has menthol in it, so I tend to use it less now it's getting colder. I like a cooling effect, but in the cold wind it's a bit much.
I have been using the balm in during this winter and it has been doing a great job.
To me the balm has a pretty strong smell and i would agree with matt on his description.
The Wife actually can smell it on me very easily, though it does only last for about an hour as stated above.