Whisk together the balsamic vinegar, water, onion, red pepper flakes, garlic, salt, pepper, paprika, rosemary, parsley, chili powder, and oregano in a bowl, and pour into a resealable plastic bag. Add the chicken breasts, coat with the marinade, squeeze out excess air, and seal the bag. Marinate in the refrigerator 30 minutes to overnight.
Preheat oven to 400 degrees F (200 degrees C). Line a baking sheet with aluminum foil, or lightly grease a broiler pan. Remove the chicken breasts from the marinade, and shake off excess. Discard the remaining marinade, and place the chicken breasts onto the baking sheet.
Bake in the preheated oven until the chicken breasts are golden brown, and no longer pink in the center, about 40 minutes.
In a medium bowl, mix together the paprika, garlic powder, salt, onion powder, thyme, cayenne pepper, and ground black pepper. Set aside about 3 tablespoons of this seasoning mixture for the chicken; store the remainder in an airtight container for later use (for seasoning fish, meats, or vegetables).
Preheat grill for medium-high heat. Rub some of the reserved 3 tablespoons of seasoning onto both sides of the chicken breasts.
Lightly oil the grill grate. Place chicken on the grill, and cook for 6 to 8 minutes on each side, until juices run clear.