The jungle is really close to being balanced.. Just a few more things need to be done!
There are only a couple of small balance changes that need to be made regarding the jungle (champion power not included, but this would build a strong base for future balance changes to champions) Here are some small suggestions that can be implemented without breaking the Jungle (hello old feral flare)
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Increase the base damage of devourer from 25 ----> 35 on hit damage (was 40 when the jungle changes were first implemented in the pre-season) This would be a nice small buff to the "auto attacker" junglers Like Yi, Xin, Nocturne, Kayle, Aatrox, Tryndamere, Trundle and WW. Most of these junglers are out of flavor and need a little bit of help in the current jungle. Right now farming devourer stacks isn't as strong as Cinderhulk and Warrior enchants (magus will be talked about later). This proposed buff will give devourer a bit of "umph" and help it stay in line with Cinderhulk and Warrior.
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Magus, reduce the ability power of the item from 80 ----> 60, add the mana-restore passive from old spirit stone (3% of damage done to monsters, restored as mana). This small change to the Magus enchantment will help out the AP junglers like Fiddle, Elise, Eve, Diana and Kayle. As of right now, Fiddle is basically the only "strong" AP jungler option. Evelyn and Elise probably need more specialized buffs in order to fully benefit from this change, but I think in general the added mana sustain to these AP junglers will allow them to clear a little bit quicker and allow them to gank more often.
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Remove Poacher's Knife. I know this idea is pretty extreme, but I think the removal of Poacher's Knife is the best bet in terms of retaining game health in the jungle and balance. As it stands now, the role Poacher's knife fulfills is already being fulfilled by trailblazer and specific champion's kits. We already see plenty of counter-jungling. There are many champions who can counter-jungle effectively with trailblazer (
are all exceptional counter-junglers due to their fast clears and or mobility. The reward for counter-jungling is already there.. you starve the enemy jungler of gold/xp, which forces the jungler to go into lanes to try and soak up xp. Buffing or changing Poacher's knife can have two possible outcomes. 1) If you're winning the game, you're gonna be counter-jungling anyway, adding in the potential benefits of Poacher's Knife.. you will snowball the game out of control. On the flipside, if you're behind and have the Poacher's Knife in your inventory, then you cannot reap the benefits of the item, plus you don't get any bonuses from staying in your own jungle so... the item is useless. It's too feast or famine. Polarized gameplay proves to be very hard, if not, impossible to balance.

are all the ones I could really think of. If the item gave Mana and worked like Liandries I could see it working but even then, who would even go jungling thats AP other than these 6?
all can jungle pretty well (not so much Teemo, though) and often do use Magus. Amumu, Cho, or Gragas don't atm because Cinderhulk is so strong, but Nidalee, Brand, Evelyn and Teemo can and often do use Magus.