Powell, who missed the meetings with Preston North End and Stevenage because of a knock, comes straight back into the side on the wing while Balanta is given the nod on the opposite flank.
Antony Kay also makes his first start since returning from suspension while Charlie MacDonald is chosen to lead the line for the Dons up top.
Stephen Gleeson, who picked up a foot injury on the weekend, has a place on the bench but Dean Bowditch and Gary MacKenzie miss out.
Tonight's game is the last of Scott Allan's one-month loan deal and he is also named among the substitutes.
Crawley Town: P Jones, Sadler, McFadzean, Akpan, Clarke, Alexander (c), Simpson, Bulman, Adams, Byrne, Davis.
Subs: Kuipers (GK), Connolly, Torres, Forte, Hunt, Ajose, M Jones.
MK Dons (4-2-3-1): Martin; Otsemobor, Kouo-Doumbe, Kay, Lewington (c); Williams, Potter; Powell, Chadwick, Balanta; MacDonald.
Subs: McLoughlin (GK), Gleeson, Smith, Chicksen, Lowe, O'Shea, Allan.
Referee: S Hooper (Wiltshire)