What you're actually doing when you "weight" the outside peg is supporting yourself with your outside knee. This isn't splitting hairs, it's an important concept to grasp, and you can support yourself this way even if you don't leverage your leg and press your foot against the outside peg - leaning off to the inside, it's impossible to put your weight on the outside peg. In contrast, you can support yourself by weighting the inside peg regardless of what your knees are doing. This has some advantages and disadvantages.
Jeff, we don't disagree about the body part that is keeping us from falling off the inside of the bike.
I do disagree with the idea that you can't vary the amount of weight that the outside peg bears, if that's what you're saying. By the way, I'm not saying that you are
moving the weight, as you would have to relocate your center of mass to do that.
Imagine that you're sitting on a stool with both feet on the ground, but nearly all of your weight on the seat. Your butt is nearly half off the right side of the stool and your torso is leaning a little to the right. Your feet are offset a little to the left of your body's center of mass.
Now, you stand up just enough to unweight the seat. I would say you've placed your weight on both feet; the right and the left, even though the right foot is carrying the lion's share. What you have not done is alter your center of mess, other than raise it the tiny bit necessary to lift your butt off the stool.
It's not a whole lot different on the bike. If you were to say the rider cannot place all of his weight on his outside foot when hanging off, I'd agree with you. To say he cannot place any weight there is to say he cannot vary the amount of weight that foot carries. That's just not the case. If you can put pressure on the peg and you're not doing so in opposition to some other surface on the bike, you're doing it in opposition to gravity. If that's the case, the peg is bearing some of your weight.
I could just let this go, but there is something that matters here. As I've said, the point of attachment to the bike doesn't really matter if the bike and rider move as a unit. But they aren't bolted together. The human will flop around a bit on the bike as the bike gets jounced by bumps.
Imagine a rider actively weighting the right peg while leaned over in a right hand turn. If the bike hits a bump, the rider's weight will transmit a jounce into the peg that tends to roll the bike farther to the right. If there's ample traction, the bike won't move much, if at all. If he's right on the limit, that torque on the peg can momentarily add a little more lateral force to the tires. Slides can and do happen this way.
Conversely, if the rider is actively trying to weight the outside peg, he will largely neutralize this torquing effect. He'll in reality never get the majority of his weight onto the outside peg, but the effort he bears on the outer peg will cause some of his mass to act on a moment on the opposite side of the bike's roll axis and reduce the tendency of the bike to slide or to increase lean angle while sliding.
Having said all that, do we still disagree on something?
. Both those jackasses blew the DY multiple times also. 
