Powersaves a got an update a few days ago. If you use Powersaves to alter pokemon or items, you must state how you used it. If you prefer to not receive hacked pokemon or items, it wouldn't hurt to double check with your trade partner before trading.

You can now:

• wondercard any pokemon - non-shiny and shiny, stats (nature, ability, level) are random, edit: Trying to wondercard for 719-721 will not work. You will get a web operation failed error when applying the modifier or be given a Trollbasaur (Bulbasaur). If you use this code with 0 masterballs there is a chance of corrupting your save file. If you get an unreleased hidden ability you cannot it trade via wifi.
• quick hatch (edit: reduces step count to 1) eggs in your party, the first egg in box 1, or all of box 1 - accidentally using the code on a pokemon will reset its friendship
• change the pokeball of the first pokemon in box 1

guide for legal pokeball inheritance

Other codes:

• max cash, BP, pokemiles
• all TMs and HMs
• max items, berries
• sacrifice an item or berry to get one you don't have
• shinify and un-shinify pokemon
• delete 1, 10, 20 or all pokemon in box 1
• various event wondercards
• full O-power, S O-powers
• alternate forms of floette, gourgeist, and vivillon
• change the language of a pokemon
• change the country of a pokemon - UK, US, and JP only

Edit: clarified quick hatch, any wondercard limitations