| Darksol the Painbringer |
Yup. Power Attack allows you to sacrifice bonuses to hit for extra damage output on any given attack.
Vital Strike is a specific Attack Action, which is clarified to be a type of Standard Action. Since a Vital Strike is an attack, and Power Attack bonuses/penalties can be applied on any given attack (within your turn, and is set until the beginning of your next turn), you can apply the effects of Power Attack to the action of a Vital Strike.