Stanley started on the front foot and came close in the 16th minute when Thimothee Lo-Tutala pushed out Caton's strike and Josh Woods' follow-up was cleared off the line.
It was Colchester who broke the deadlock after 24 minutes. Jack Payne played in a free-kick which Ellis Iandolo headed home.
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Stanley continued to press and they levelled five minutes later when Shaun Whalley's cross was headed into the far corner by Caton.
The Reds took the lead in the first minute of added time at the end of the first half as Connor O'Brien's cross found Caton in the box and he fired home.
Colchester upped their pressure after the break and equalised on the hour when Rob Hunt's high cross dipped straight into the top corner of the net.
Both sides went in search of a winner but the spoils were shared.
