@ctucker2 -
No the classes do not have to be the same name. I crosslist 211-01 and 211-02 all the time at my institution (I shortened the name to the only part that is different).
You could cross-list any two courses. I do not know about syncing to power school, but I imagine not.
Just a word of warning/advice. When you cross list course 211-02(child course) into 211-01(parent course) the course 211-02 dissapears and all students (and you) will see 211-01 in their canvas page - even if they are in 211-02. Unfortunately, that can be confusing to the students.
I always put information on my home page that explains that situation.