Akt Inhibitor MK2206 in Treating Patients With Previously Treated Colon or Rectal Cancer That is Metastatic or Locally Advanced and Cannot Be Removed by Surgery

Patients who have had chemotherapy or radiotherapy within 4 weeks (6 weeks for nitrosoureas or mitomycin C) prior to entering the study; if the patient has residual toxicity from prior treatment, toxicity must be =\< grade 1 (or =\< grade 2 for peripheral neuropathy and/or alopecia)

Patients who are receiving or have received any other investigational agents within 30 days of study day 1, or who have previously received MK-2206 at any time

Patient has known active central nervous system (CNS) metastases and/or carcinomatous meningitis; however, patients with CNS metastases who have completed a course of therapy would be eligible for the study provided they are clinically stable for at least 1 month prior to entry as defined as:

* No evidence of new or enlarging CNS metastasis

* Off steroids that are used to minimize surrounding brain edema

History of allergic reactions attributed to compounds of similar chemical or biologic composition to MK-2206

Patients receiving any medications or substances that are inhibitors or inducers of cytochrome P450, family 3, subfamily A, polypeptide 4 (CYP450 3A4) are ineligible

Patients with diabetes or in risk for hyperglycemia should not be excluded from trials with MK-2206, but the hyperglycemia should be well controlled on oral agents before the patient enters the trial

Cardiovascular baseline corrected QT by Fridericia's (QTcF) \> 450 msec (male) or QTcF \> 470 msec (female) will exclude patients from entry on study

Uncontrolled intercurrent illness including, but not limited to, ongoing or active infection, symptomatic congestive heart failure, unstable angina pectoris, cardiac arrhythmia, or psychiatric illness/social situations that would limit compliance with study requirements

Pregnant women are excluded from this study; breastfeeding should be discontinued if the mother is treated with MK-2206

Human immunodeficiency virus (HIV)-positive patients on combination antiretroviral therapy are ineligible

No other prior malignancy is allowed except for the following: adequately treated basal cell or squamous cell skin cancer, in situ cervical cancer, adequately treated stage I or II cancer from which the patient is currently in complete remission, or any other cancer from which the patient has been disease free for five years

What this study is about