Oxaliplatin, Leucovorin, and Fluorouracil With or Without Bevacizumab in Treating Patients Who Have Undergone Surgery for Stage II Colon Cancer

Inclusion Criteria: * STEP 1: INITIAL REGISTRATION * The distal extent of the tumor must be \>= 12 cm from the anal verge on endoscopy; if this distance was not confirmed on endoscopy pre-operatively, then the distal extent of the tumor must be \>= 12 cm from the anal verge as determined by surgical examination; colonoscopy should be performed postoperatively for those unable to have a preoperative colonoscopy to guarantee there are no synchronous lesions * Patients must have paraffin-embedded tumor specimen available for evaluation of microsatellite instability and loss of heterozygosity at 18q, to determine high risk versus low risk * High-risk patients will be randomized to treatment Arms A or B * Low-risk patients will be registered to Arm C for observation * NOTE: Every effort should be made to submit blocks (tumor and normal mucosa) to the Principal Coordinates Analysis (PCO) immediately; blocks CANNOT be accepted after day 50 (post surgery) in order to allow for molecular assessment * Specific laboratory requirements for Step 2 must be obtained within 2 weeks prior to Step 2 randomization * Patients must not have synchronous tumors * Patients must not have appendiceal tumors * Patients must not have a history of inflammatory bowel disease (IBD) * Patients with hereditary non-polyposis colorectal cancer (HNPCC) are eligible * Patients must have no history of isolated, distant, or non-contiguous intra-abdominal metastases, even if restricted * Patients mus…