Rebeccamycin Analog in Treating Patients With Metastatic or Locally Recurrent Colorectal Cancer

DISEASE CHARACTERISTICS: * Histologically or cytologically confirmed metastatic or locally recurrent adenocarcinoma of the colon or rectum * No curable stage of disease * At least 1 unidimensionally measurable lesion * At 20 mm by conventional techniques OR at least 10 mm by spiral CT scan * No tumor lesions in previously irradiated area except clearly measurable lesion documented histologically to be consistent with recurrent tumor in previously irradiated bed within pelvis * The following are considered nonmeasurable disease: * Bone lesions Leptomeningeal disease * Ascites * Pleural/pericardial effusion * Inflammatory breast disease * Lymphangitis cutis/pulmonis * Abdominal masses not confirmed and followed by imaging techniques * Cystic lesions * No known brain metastases PATIENT CHARACTERISTICS: * Age: 18 and over * Performance status: ECOG 0-2 OR Karnofsky 60-100% * Life expectancy: More than 12 weeks * WBC at least 3,000/mm3 * Absolute neutrophil count at least 1,500/mm3 * Platelet count at least 100,000/mm3 * Bilirubin normal * AST/ALT no greater than 2.5 times upper limit of normal * Creatinine normal OR creatinine clearance at least 60 mL/min * No symptomatic congestive heart failure * No unstable angina pectoris * No cardiac arrhythmia * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use effective contraception during and for 6 months after study * Eligible for placement of a central venous catheter * No prior allergic reactions attributed to compounds of similar chemical or biologic composition to rebeccamycin analogue * No other uncontrolled concurrent illness * No ongoing or active infection * No psychiatric illness or social situation that would preclude study compliance PRIOR CONCURRENT THERAPY: * No concurrent prophylactic growth factors (e.g., epoetin alfa) except for clinically defined indication (e.g., filgrastim (G-CSF) for febrile neutropenia) * At least 4 weeks since prior chemotherapy (e.g., fluorouracil, oral fluoropyrimidines, irinotecan, or oxaliplatin) (6 weeks for nitrosoureas or mitomycin) * No other concurrent chemotherapy * No concurrent hormones except for clinically defined indication * At least 4 weeks since prior radiotherapy (including to bony sites, whole pelvis, lung, liver, or spinal cord/brain) and recovered * No prior total dose of radiotherapy more than 7,000 cGy * No prior radiotherapy to 40% or more of total bone marrow * No prior radiotherapy to only site of measurable disease * No concurrent radiotherapy * Recovered from prior therapy 1 prior adjuvant treatment allowed 1 prior treatment for advanced disease allowed * At least 4 weeks since prior investigational agents * No other concurrent investigational antineoplastic drugs * No other concurrent investigational agents * No concurrent commercial agents for colorectal cancer * No concurrent combination antiretroviral therapy for HIV-positive patients