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 | |
| 1 | Port Vale | 15 | 9 | 3 | 3 | 23 | 16 | 7 | 30 |
| 2 | Walsall | 14 | 8 | 3 | 3 | 27 | 15 | 12 | 27 |
| 3 | Notts County | 15 | 7 | 6 | 2 | 23 | 13 | 10 | 27 |
| 4 | Doncaster RoversDoncaster | 15 | 8 | 3 | 4 | 21 | 17 | 4 | 27 |
| 5 | Crewe AlexandraCrewe | 14 | 7 | 4 | 3 | 17 | 13 | 4 | 25 |
| 6 | MK Dons | 15 | 7 | 3 | 5 | 24 | 17 | 7 | 24 |
| 7 | Grimsby Town | 15 | 8 | 0 | 7 | 19 | 25 | -6 | 24 |
| 8 | Gillingham | 15 | 7 | 2 | 6 | 16 | 12 | 4 | 23 |
| 9 | Chesterfield | 15 | 5 | 7 | 3 | 28 | 18 | 10 | 22 |
| 10 | Bradford CityBradford | 15 | 6 | 4 | 5 | 20 | 16 | 4 | 22 |
| 11 | BarrowBarrow | 15 | 6 | 4 | 5 | 16 | 12 | 4 | 22 |
| 12 | Fleetwood TownFleetwood | 14 | 5 | 6 | 3 | 20 | 15 | 5 | 21 |
| 13 | Salford City | 15 | 5 | 5 | 5 | 14 | 17 | -3 | 20 |
| 14 | AFC Wimbledon | 12 | 6 | 1 | 5 | 18 | 10 | 8 | 19 |
| 15 | Newport CountyNewport | 15 | 6 | 1 | 8 | 19 | 26 | -7 | 19 |
| 16 | Cheltenham TownCheltenham | 15 | 5 | 3 | 7 | 19 | 22 | -3 | 18 |
| 17 | Tranmere RoversTranmere | 14 | 4 | 5 | 5 | 10 | 17 | -7 | 17 |
| 18 | Accrington StanleyAccrington | 14 | 4 | 4 | 6 | 18 | 22 | -4 | 16 |
| 19 | Bromley | 14 | 3 | 6 | 5 | 16 | 18 | -2 | 15 |
| 20 | Harrogate TownHarrogate | 15 | 4 | 3 | 8 | 12 | 21 | -9 | 15 |
| 21 | Colchester UnitedColchester | 14 | 2 | 7 | 5 | 17 | 21 | -4 | 13 |
| 22 | Swindon TownSwindon | 15 | 2 | 6 | 7 | 16 | 23 | -7 | 12 |
| 23 | Carlisle UnitedCarlisle | 15 | 3 | 2 | 10 | 13 | 28 | -15 | 11 |
| 24 | Morecambe | 15 | 2 | 4 | 9 | 14 | 26 | -12 | 10 |
| > League Two Full Table | |||||||||
