We recently discovered a parallel 600 amp feed that had two 500 MCM compact aluminum cables on the A and B phases and one 500 and one 750 mcm cable on the C phase. Will this cause the c phase to carry more current creating an unbalanced load? Is this a code issue?
It would be a legal installation to put 2 sets of 500 kcmil on Phase A, 2 sets of 600 kcmil on Phase B, and 2 sets of 750 kcmil on Phase C, provided that 2x500 kcmil is the appropriate size. And this is true, even if the loads are balanced. One reason you might want to do this, is if you do have imbalanced current, and need to curtail voltage drop differently among the phases.
The only reason why there would be slightly more current on the phase with larger conductors, is if it curtails voltage drop to simple resistive loads, balanced across the phases, such that there is more voltage delivered to the load and therefore more current. But remember, it won't increase the delivered voltage to the load any more than a ~5% improvement, if sized according to NEC recommendations on voltage drop.
What is not a legal installation, is dissimilar sizes in parallel on the same phase. Because it means that a disproportionate amount of current could flow among the conductors, and therefore you cannot take credit for the assumption that current divides itself uniformly across the sets. You have to preserve the symmetry as much as practical, when working with parallel conductors. Same length, same size & type, same conditions of use, same termination method, etc. The "same length" rule is probably the one that is the least practical to know you've done correctly and enforce, because it is difficult to get the conductors exactly the same length.