Callum Harriott's first half strike was cancelled out by a second half effort from Elijah Adebayo as the points were shared at Walsall.
The U's made one change from last weekend's draw against Oldham, as Miles Welch-Hayes dropped out of the team and was replaced by Miquel Scarlett.
The U's bench was without Luke Gambin, who is on international duty, but included new signing Josh Bohui who was announced just before the match.
Walsall starting XI: Roberts, Norman, Clarke, Scarr, Kinsella, Gordon, Adebayo, McDonald, Guthrie, Nurse, Holden.
Subs: Rose, Jules, Sinclair, Lavery, Bates, Osadebe, White.
Colchester United starting XI: Gerken, Bramall, Smith, Senior, Brown, Harriott, Chilvers, Scarlett, Eastman, Poku, Stevenson.
Subs: George, Sowunmi, Sowunmi, Norris, Cowan-Hall, Marshall Miranda, Tovide, Bohui.
Colchester United were unlucky not to be ahead after just two minutes as Jevani Brown hit the post.
He nicked the ball away from Dan Scarr and raced clear to dink the ball over Roberts, only to be denied by the inside of the post, before the Saddlers were able to clear.
The U's had to soak up pressure from the home side with Adebayo always looking a threat to Gerken's goal.
Josh Gordon went close for the home side after ten minutes as he flashed a shot just over the bar, with a deflection from a United player helping it.
But Colchester United took the lead midway through the first half when Callum Harriott got his second in two matches.
Noah Chilvers slid the ball through with Harriott weaving left and right before a tidy finish under Roberts to give the U's the lead.
The U's had to keep working to ensure they held on to their lead though, as Josh Gordon looked dangrous going forwards.
Unfortunately for the Saddlers, Gordon had to be replaced just before the break after picking up an injury.
Dean Gerken was alert to retain the U's lead as Dan Scarr looked to level three minutes before half time, and was only denied by a fantastic save from the away 'keeper.
Scarr's quick turn eluded the U's defence, but not Gerken as he punched the ball away to maintain the slender advantage after the first forty-five minutes.
Walsall came out in the second half looking for a quick eqauliser, and broke through after eight minutes.
Elijah Adebayo found the bottom corner of the net after the ball had deflected off a U's leg and evaded Gerken to eqaulise.
And the U's had to be on their guard to prevent the Saddlers from taking the lead. Dean Gerken made a fine save to deny Adebayo a second in a matter of minutes.
The U's found chances to be at a premium in the second half, with much of the play being broken up by niggly fouls and stop start play.
Gerken was called into action with ten minutes to go as he pushed away Rory Holden's effort from the edge of the areain the last real effort of the game.
Another point on the road for the U's extends their unbeaten start in League Two to five games, and remain ninth after the full time whistles had been blown across the country.
Next up for Colchester United is the long trip to Carlisle, who took all three points against Port Vale this afternoon and sit seventh in the table with nine points.