@waqasarshed
I returned last week from my trip to Naran.
The road beyond Balakot is not in good condition and there are frequent bad patches. However, I saw lot of Mehrans in Naran, which imply the road is still travel worthy.
The lake Saif-ul-Malook is still pretty frozen. You can go almost half way by jeep and rest on horses or foot.
There are no security problems in Naran. As the number of tourists is quite low you can get a good bargain on accommodation and transport.
Have a safe and enjoyable trip.