Ball was placed in temporary charge following Paolo Di Canio's sacking and, with the club still weighing up its options, will remain at the helm for Saturday's game against Manchester United.
"I've worked with Bally a lot and he'd certainly be the one person who would love the job more than anyone," Colback told the Evening Chronicle.
"The fans love him too. The decision is obviously nothing to do with me, but while he's here, he'll get everyone's support and commitment.
"I think it's obvious to see he's got the attributes of a manager. As a player, he showed why he was captain of teams. He's a leader and everyone gets fired up.
"Everyone respects him and I think that's the most important thing.
"It's made a big difference since he's come in and the players really want to do well for him, the fans and the club."
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