Oxaliplatin in Treating Patients With Previously Treated Locally Advanced or Metastatic Colorectal Cancer

DISEASE CHARACTERISTICS: Histologically or cytologically confirmed adenocarcinoma of the colon or rectum that is not amenable to surgical resection or other potentially curative therapy Locally advanced OR Metastatic disease Patients who progressed on a non-oxaliplatin-containing (control) arm in Sanofi-Synthelabo second-line regulatory trials OR Patients who have exhausted all approved therapies for colorectal cancer (including fluorouracil and irinotecan) and have received at least 2 prior independent/different chemotherapy regimens Documented radiological disease progression after last anticancer treatment PATIENT CHARACTERISTICS: Age: 18 and over Performance status: ECOG 0-2 Life expectancy: Not specified Hematopoietic: Absolute neutrophil count at least 1,500/mm3 Platelet count at least 75,000/mm3 Hepatic: SGOT or SGPT no greater than 6 times upper limit of normal (ULN) Bilirubin no greater than 2 mg/dL Alkaline phosphatase no greater than 5 times ULN Renal: Creatinine no greater than 1.5 times ULN Other: Not pregnant or nursing Negative pregnancy test Fertile patients must use effective contraception during and for 6 months after study Adequate organ function and medically stable No known concurrent peripheral neuropathy Absence of deep tendon reflexes as the sole neurologic abnormality is allowed PRIOR CONCURRENT THERAPY: Biologic therapy: Not specified Chemotherapy: See Disease Characteristics At least 30 days since prior chemotherapy No prior oxaliplatin-based chemotherapy No other concurrent investigational chemotherapy agents Endocrine therapy: Not specified Radiotherapy: At least 30 days since prior radiotherapy Surgery: See Disease Characteristics At least 30 days since prior major surgical procedure or intervention Other: At least 30 days since other prior anticancer therapy No other concurrent anticancer agents No concurrent participation in any other investigational studies