There is certainly plenty of space for a bedroom, dressing and ensuite within the space you have allocated at the moment, but you are right to want to reduce the size of the balcony. Ignoring that for now, you've got endless possibilities, just depends on how you plan to use it. The ensuite is too small for a free standing bath, but both the dressing room and bedroom are generous so you can borrow from those spaces. Use one of the online room planning tools to have a play around (I found roomsketcher.com to be very simple to use, but there are loads). You can shift internal walls around very easily on those tools and they have little models of most furniture to see how the space looks furnished.
Incidentaly, I don't think your pocket door will work there, it is retracting into the sloping ceiling. Not a fan anyway (what happens if the mechanism sticks?)
As to the balcony, there must be a creative solution here. As you say it is too long, even with skylights in the balcony your view from the bedroom will be tunnel-like. I'm guessing you have vaulted ceilings, so just make the support a feature beam. You could make it out of oak, or clad a steel A-frame. It could be a lovely feature. If you can't reduce the size of the vertical supports each side move the side wall in so it lines up with the front of the pillar so it is not visible. Extra eaves storage space then too.