Counterbalance allows you to reveal the top card of your library whenever a spell is played, and counter it if the revealed card has the same mana cost.
No, Counterbalance only counters the original Storm spell.
706.10. To copy a spell or activated ability means to put a copy of it onto the stack; a copy of a spell isn’t cast and a copy of an activated ability isn’t activated. [...]
Since the copies are not cast, Counterbalance never triggers for them.