While I don't have a balcony, I do have a patio and 85% of my gardening is done in pots. I would say as long as the pots are not constricting, you can pretty much have anything in there. I even do my vegetable gardening in pots.
Here are some really easy/hardy plants I have (these are in apprx. 1' radius clay pots):
hostas
ferns
honeysuckle (likes to climb, so you'll need something for it to climb, but it smells HEAVENLY). This was doing well until 2 winters ago when it was super cold and it died
bamboo (this will eventually break the pot with its roots, but it's really ornamental)
I have a whole slew of other plants I actually don't know the name of (came with the place when I bought 8 years ago).
strawberries do well in containers, and herbs do very well in pots. I have chive, rosemary, and oregano in a small pot that I've had for 12 years now!
I guess you just have to figure out at this point whether you want annuals or perennials. Have fun!



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