When we talk about tonearm effective mass, we are really talking about inertia. And when we talk about cartridge compliance, we are really talking about spring rate. Not to sound confusing, but high compliance is low spring rate and low compliance is high spring rate. So the resonance frequency of the tonearm/cartridge system is simply the square root of the cartridges spring rate over the sum of the masses. It is the classic spring/mass equation. The system will become very excited at its resonance or natural frequency meaning it will mistrack or even skip.
The moment of inertia of the tonearm about its pivot is I=mr2. So moving the counterweight further from the pivot point increases the inertia (effective mass) by the square of the distance whereas keeping the counterweight at the same distance and increasing the mass is a one to one change in inertia. Thats why using a heavier counterweight closer to the pivot reduces the tonearm effective mass.
The tonearm is on a pivot bearing with as little friction as possible, so it is important to have a tuned system that does not get excited by vibrations from the record/platter or vibrations external to the turntable. The stylus is connected to a suspension which gives it its spring rate. As the stylus moves up/down and left/right on the record it is pushing against the tonearm. As long as those motions or vibrations are not near the tonearms resonance point, the tonearm remains stable.
When you pluck a spring, it resonates at its natural frequency. A string nearby tuned to the same frequency will vibrate on its own because it is excited by the other strings vibrations. That is called sympathetic vibration. The same holds true for the tonearm/cartridge system. The 10Hz +/-2Hz natural frequency is a rule because it works. Music ranges from 20Hz- 20kHz. So if the tonearm/cartridge system is tuned too closely to 20Hz, then the arm could become excited when playing music on the record that is close to 20 Hz. 10Hz being half of 20 keeps the tonearm/cartridge system safely away from the range of the music. Now at the other extreme, footfalls and other low frequency sources in the 5-6 Hz range will excite the tonearm if it is tuned too low. So again, 10Hz being double of 5 helps reduce the tonearms sensitivity to footfalls and such.
I hope this all makes sense.