Been back and forth looking through episode lists for both Podcastle and Escapepod because I honestly don't remember which hosted it. Seems like it'd be more suited to the former.
The story involved a boy living in a small town that had numerous (stones, gems, spheres?) hidden in various locations. Each one was a different color which corresponded to a specific power that person would receive when they (consumed, absorbed?) it. Over the course of a few generations, most of these have already been found, but he happens upon the rarest of all.
I thought of this one lately and would love to share it with my daughter. Any help would be greatly appreciated.