I don't have a good solution for your example with a decimal exponent, but in the title you asked about fractional powers. You can approximate these pretty easily using Newton's method. Modifying your example to $(\frac{125}{250})^\frac{2}{3}$, we can use $x_0=\frac{27}{64}$ to get $\frac{27}{64}^{\frac{2}{3}}+(\frac{125}{250}-\frac{27}{64})\frac{2}{3}(\frac{27}{64})^{-\frac{1}{3}}$. Simplifying this gives $\frac{9}{16}+\frac{5}{72}=\frac{91}{144}\approx0.632$, which is pretty close to the actual value, $0.630$. This is pretty feasible if the numerator and denominator are single digits, but once you start dealing with more complex fractions, it starts to become very difficult to find a good $x_0$, unless you're lucky enough to be able to use $x_0=1$.
We can convert any decimal exponent into a fractional exponent. For example: $(\frac{125}{250})^{0.66}=(\frac{125}{250})^\frac{66}{100}$. Unfortunately, I don't know any power of $\frac{66}{100}$ off the top of my head, aside from the trivial $x_0=1$, so we'll use that. We get $1+(\frac{125}{250}-1)\frac{66}{100}(1)^{-\frac{34}{100}}=\frac{66}{100}=0.66$, which is sort of close to $0.633$.
If we always use $x_0=1$, we can get a formula of $x^n=1+nx-n$, which is easy to memorize, and works reasonably well for values from $n<x<\frac{1}{n}$