Okay, I'd use a variable here, I'll be using "CanUsePowerUp" which starts at 0
X is how long the power should be active
Events: On power up activated
               CanUsePowerUp=0
Actions: Set CanUsePowerUp to 1
                 Set max speed to self.platform.maxspeed+50
                 Wait X Seconds
                 Set max speed to self.platform.maxspeed-50
                 Wait 20-X seconds
                 Set CanUsePowerUp to 0