The former Richmond player kicked all his goals while playing in the midfield as his blue team, which also featured premiership stars Scott Pendlebury, Luke Ball, Dale Thomas and Harry O'Brien, comfortably defeated a black team led by Dane Swan.
Krakouer won several centre clearances and drove the ball inside 50 numerous times in a performance that had onlookers, as well as teammate Ball, impressed.
"He's been terrific all pre-season," Ball said after the hit-out.
"He's played 100 AFL games and he's 28 years old, so he's been in the system and knows what it's all about, and it's fantastic to see him get a second chance."
Having spent the first phase of his AFL career as a forward, Ball said Krakouer had developed his endurance while at WAFL club Swan Districts, which has enabled a move further up the ground.
"I think going to Perth, and just getting a bit older and doing more and more pre-seasons, and playing on those big grounds over in Perth has helped him out.
"I don't think there's any problems with him playing through the midfield now."
Ball, elevated into the Magpies' leadership group this week, indicated that Krakouer is in the mix for a spot in the club's best 22 to start the season.
"It's tough. There's spots up for grabs, that was the first message that Mick drummed into us from the first day back," he said.
"No-one's safe, from Swanny right down to the last rookie picked. It's a new season and everyone's got to earn their spot.
"But to date, on training form, he (Krakouer) would certainly be thereabouts."
Thomas, O'Brien and Ball himself were other solid performers in the match with Thomas largely in a sweeping role behind play, where he was able to run to receive and drive the ball from defence.
Krakouer's fellow recruit Chris Tarrant held down a key defensive post on big man Chris Dawes, and Ball said the returning Magpie - who played the past three seasons for Fremantle - has fitted comfortably back into the Collingwood system.
"He's another guy that's come in and is pretty hungry to make the most of his second chance at this club, and he hasn't missed a beat either," Ball said.
"He looked pretty good today. His arms looked pretty good too," he joked.
Ball also singled out hard-running young midfielder Jye Bolton, selected at pick 73 in the 2010 Rookie Draft, for special mention.
"His work ethic and attitude, he reminds me of a young Ben Cousins - I know that's a big rap, but with the way he runs and the way he plays he's been pretty impressive," Ball said of Bolton.
Not playing in the hit-out were skipper Nick Maxwell, Dayne Beams, Ben Johnson, Brad Dick, Tyson Goldsack, Alan Didak, Nathan Brown and American rookie Shae McNamara.
But the club indicated that only Didak and Brown, who are both recovering from shoulder surgery, are likely to be unavailable for the first round of the NAB Cup.
Collingwood will take on Carlton and Richmond in the new lightning format at Etihad Stadium on Saturday 12 February.
