I personally don't put a lot of significance into the red balloons. It seems just like a 'myspace' or 'photobucket' thing. It's a lot of 'Indy' stuff she has probably sourced from around the net (of other peoples blogs, myspaces, etc) because she likes them. Perhaps she was using them as MSN or Chat avatars, screensavers, screen displays... there are a whole range of innocuous, innocent reasons she could have them.
The CD covers could have been because she was going to post them on her myspace under the style of music she liked. Or like litltigress just said, from downloading.