Diego Osella's men suffered a rare defeat at the weekend but bounced back thanks to defender Lucas Landa's late goal in a match that saw both teams finish with 10 men at the Estadio Brigadier General Estanislao Lopez.
Colon are one point clear in the Clausura championship after 11 games, ahead of Velez Sarsfield and River Plate who both recorded victories mid-week.
After a scoreless opening 45 minutes, the game sprung into life when All Boys midfielder Juan Careaga saw red for a second bookable offence.
The home side's numerical advantage eventually paid off with eight minutes remaining when Landa headed home from close range.
Colon were forced to endure a nervy finish after substitute Carlos Luque was sent off in the 90th minute.
Velez Sarsfield are still hot on the heels of Colon after accounting for Olimpo 2-1 at the Estadio Roberto Natalio Carminatti on Tuesday.
Leandro Desabato opened the scoring for Sarsfield before Dylan Gissi sent the ball into his own net early in the second half.
Sarsfield defender Facundo Cardozo received his marching orders on the hour mark and Ezequiel Miralles pulled a goal back for the hosts with 12 minutes left on the clock, though it proved nothing more than a consolation.
Argentine powerhouse River Plate are level with Sarsfield on 20 points following their 1-0 win at home to Newell's Old Boys on Wednesday.
Elsewhere, Rosario Central condemned struggling Boca Juniors to back-to-back defeats, scoring twice in the second half to prevail 2-1.
A 17th-minute penalty from Mauro Obolo lifted high-flying Godoy Cruz to a 1-0 triumph over Lanus.
Basement club Racing Club surrendered a lead twice as they were forced to settle for a share of the spoils after their entertaining 3-3 draw at home to Estudiantes.
Lowly Arsenal were beaten 2-0 by San Lorenzo, Gimnasia La Plata upstaged Tigre 3-1 and Quilmes claimed a confidence-boosting 1-0 victory against Belgrano.
Argentinos Juniors and Atletico Rafaela played out a goalless draw.
