Gemcitabine and Oxaliplatin as Second-Line Therapy in Treating Patients With Metastatic Colon Cancer

DISEASE CHARACTERISTICS: * Histologically or cytologically confirmed adenocarcinoma of the colon * Metastatic or recurrent disease * Redocumentation of tumor histology or cytology prior to protocol therapy is not required if documented tumor was confirmed prior to initial therapy * Measurable disease * Lesion of ≥ 1 cm in longest diameter that can be repetitively assessed by radiographic measurement or any lesion of ≥ 2 cm in longest diameter that can be repetitively assessed by physical examination * Positive bone scans, osteoblastic or osteolytic bone lesions, pleural effusions, and positive bone marrow biopsies are not considered measurable or evaluable lesions * Metastatic disease to the brain allowed if emergent radiotherapy for symptomatic CNS disease is not required * Must have received at least one prior chemotherapy regimen (with or without radiotherapy) * One of the prior regimens must include irinotecan hydrochloride, fluorouracil, and leucovorin calcium or irinotecan hydrochloride and other fluoropyrimidine * Previous therapy with C-225 and/or bevacizumab is allowed * . PATIENT CHARACTERISTICS: * ECOG performance status 0-2 * Granulocyte count ≥1,500/mm\^3 * Platelet count ≥ 100,000/mm\^3 * Creatinine ≤ 2.0 mg/dL * Bilirubin \< 1.5 mg/dL * SGOT ≤ 2 times upper limit of normal (ULN) * Alkaline phosphatase \< 2.5 times ULN * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use effective contraception * No serious medical or psychiatric illness that would render chemotherapy unsafe * No concurrent clinically evident malignancy except inactive nonmelanoma skin cancer, low-grade low-stage bladder carcinoma followed off therapy, or lobular neoplasia of the breast * No clinical AIDS or known positive HIV serology PRIOR CONCURRENT THERAPY: * See Disease Characteristics * Recovered from prior therapy * No investigational agent for at least 30 days prior to study entry * No chemotherapy within the past 3 weeks * No radiotherapy for palliation within the past 2 weeks prior to study entry * No prior oxaliplatin or gemcitabine hydrochloride * No concurrent participation in another clinical trial * No other concurrent anticancer therapy including chemotherapy, radiotherapy, hormonal therapy, or immunotherapy * No other concurrent investigational drugs