The 20-year-old, who came through the youth ranks at Gresty Road, has scored five goals in 37 appearances since making his professional debut in 2012.
Colclough had been invited to train with Wolverhampton Wanderers, but the Stoke-born player has opted to stay with the Railwaymen.
The winger could feature for Crewe against Port Vale on Saturday.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| C | Stockport CountyStockport | 44 | 26 | 11 | 7 | 91 | 44 | 47 | 89 |
| P | Mansfield TownMansfield | 44 | 23 | 13 | 8 | 87 | 45 | 42 | 82 |
| P | Wrexham | 44 | 24 | 10 | 10 | 84 | 51 | 33 | 82 |
| 4 | MK Dons | 44 | 22 | 8 | 14 | 74 | 61 | 13 | 74 |
| 5 | Crewe AlexandraCrewe | 44 | 19 | 13 | 12 | 68 | 61 | 7 | 70 |
| 6 | BarrowBarrow | 43 | 18 | 14 | 11 | 58 | 49 | 9 | 68 |
| 7 | Crawley TownCrawley | 44 | 20 | 6 | 18 | 69 | 65 | 4 | 66 |
| 8 | Walsall | 44 | 18 | 11 | 15 | 66 | 65 | 1 | 65 |
| 9 | Doncaster RoversDoncaster | 43 | 19 | 7 | 17 | 63 | 63 | 0 | 64 |
| 10 | Gillingham | 44 | 18 | 9 | 17 | 43 | 53 | -10 | 63 |
| 11 | AFC Wimbledon | 44 | 16 | 14 | 14 | 57 | 47 | 10 | 62 |
| 12 | Harrogate TownHarrogate | 44 | 17 | 11 | 16 | 55 | 62 | -7 | 62 |
| 13 | Bradford CityBradford | 43 | 16 | 12 | 15 | 52 | 55 | -3 | 60 |
| 14 | Notts County | 44 | 17 | 7 | 20 | 88 | 85 | 3 | 58 |
| 15 | Morecambe | 44 | 17 | 9 | 18 | 63 | 76 | -13 | 57 |
| 16 | Newport CountyNewport | 44 | 16 | 7 | 21 | 61 | 71 | -10 | 55 |
| 17 | Tranmere RoversTranmere | 44 | 16 | 6 | 22 | 63 | 64 | -1 | 54 |
| 18 | Accrington StanleyAccrington | 44 | 15 | 9 | 20 | 57 | 66 | -9 | 54 |
| 19 | Swindon TownSwindon | 44 | 14 | 11 | 19 | 74 | 78 | -4 | 53 |
| 20 | Salford City | 44 | 12 | 11 | 21 | 63 | 80 | -17 | 47 |
| 21 | Grimsby Town | 44 | 10 | 16 | 18 | 55 | 72 | -17 | 46 |
| 22 | Colchester UnitedColchester | 43 | 11 | 11 | 21 | 57 | 74 | -17 | 44 |
| 23 | Sutton UnitedSutton | 44 | 9 | 13 | 22 | 53 | 78 | -25 | 40 |
| R | Forest Green RoversForest Green | 44 | 9 | 9 | 26 | 41 | 77 | -36 | 36 |
| > League Two Full Table | |||||||||
