There are two version of powerbait - the powerbait rubber fish and then the powerbait dough.
I suppose you mean the dough?
The dough mainly attracts by scent. I haven't used it so far.
But if I'd use it I would probably use it on a one or two hook dropper rig.
For colours I'd get either yellow, brown or pinkish stuff.
Trout might take those colours for corn, trout pellets or trout eggs.
Where are you planning to fish?
Is it a stocked lake?
a snapper a day keeps the doctor away