In one aspect, a drill bit is disclosed that in one embodiment includes a plurality of elements that extend and retract from a surface of the drill bit, wherein the plurality of such elements are in fluid communication with each other to compensate for differing forces applied to such elements during drilling operations. In another aspect, a method of drilling a wellbore is provided that in one embodiment includes: conveying a drill string having a drill bit at an end thereof, wherein the drill bit includes a plurality of elements that extend and retract from a surface of the drill bit, wherein the plurality of such elements are in fluid communication with each other to compensate for differing forces applied to such elements during drilling operations; and drilling the wellbore using the drill string.