The U's - top of Premier Division South and likely title-winners this season - needed a late equaliser to deny Karen Hills' team a chance of progressing to the quarter-finals of the competition.
Nevertheless, manager Karen took great heart from the performance with the big one - the London FA Women's Cup Final - now just over a fortnight away.
"There were plenty of positives to come out of the game," said Karen.
"It gave me a chance to see a few girls that haven’t been involved recently, they came in and did a great job.
"We now go to Watford on Thursday night for the last League Cup game with nothing to lose as we can’t progress but the girls know that they are all still fighting for the chance to be selected for the London Cup Final on March 29th!"
PREMIER LEAGUE CUP
Spurs 2-2 Colchester
The ladies' hopes of making the last eight of the all-new League Cup were ended by a late equaliser at Frederick Knight Sports Ground on Sunday.
Spurs have competed well in a tough group having been matched with Premier League National Division teams Barnet and Watford, plus Colchester and West Ham, two title-chasing teams from their own Southern Division.
Needing a win to progress to the knockout stage, boss Karen Hills made changes with injuries to Jess Cheeseman, Siobhan Wilson and Emma Sherwood.
Derrie O'Halloran and Ryha Vyse came in and impressed, with Derrie's pace down the right causing problems for Colchester.
Chances came and went in a fine first-half show with Jenna Schillaci just failing to convert Derrie's cross.
The team flew out of the traps in the second half as Miranda Hall linked up well with Jenna, zipped past the full-back and fired home across the goalkeeper into the far corner for 1-0.
Colchester responded quickly from a long ball that was no cleared but Spurs hit back again to lead 2-1 when Kirsten Thompson crossed, Sam Pittuck dummied and Wendy Martin crashed home.
However, the U's managed to find an equaliser in the final minutes leave the ladies deflated.
"We were all disappointed because we were the better side," said Karen.
"A few decisions went agains us but we had the chances to the put the game out of Colchester's reach."
Spurs Ladies: Jo Ayre, Miranda Hall, Robyn Downie, Rhya Vyse, Vicky Elcome, Wendy Martin, Robin McEvoy, Derrie O’Halloran (Bianca Baptiste, 60), Jenna Schillaci, Sam Pittuck, Kirsten Thompson (Nicola Cable, 75).