The U's had not won a home league match since October 2nd, and had only scored seven goals in their previous seven home league matches, mustering just three points to boot.
Yet Colchester made a mockery of this dismal home record with an emphatic first-half display that saw them score four goals and really put Walsall to the sword.
Craig Fagan scored a brace to set the Essex side on their way, and Gavin Johnson and Gareth Williams also hit the back of the net before the break.
To round off Walsall's misery the U's added a fifth goal in the first minute of stoppage time through left-back Stephen Hunt who celebrated his first ever senior goal.
The floodgates opened on 17 minutes when Fagan tucked home a penalty after midfielder Neil Danns had been shoved in the back by defender Neil Emblen.
Five minutes later and Colchester were 2-0 up with Fagan again on target, this time sweeping home a marvellous cross from Greg Halford.
Veteran midfielder Johnson made it 3-0 by volleying home Kevin Watson's corner in the 34th minute, the deflected effort wrong-footing exposed keeper Joe Murphy.
Walsall were never at the races and Halford then delivered another inch-perfect cross to set up the fourth goal for striker Williams on a plate just a minute before the break.
Colchester took their foot off the pedal in the second half, no doubt with one eye on their big FA Cup fourth round tie at Premiership club Blackburn Rovers this Saturday.
Blackburn scouts will have been impressed with Colchester's display and Hunt nodded home a corner to complete the rout.
Walsall could just not wait for the final whistle.
As a result, the U's have leapfrogged Walsall into 16th spot in the League One table, opening up a gap of ten points between themselves and the relegation zone.
It was Colchester's biggest win since manager Phil Parkinson took charge just over two years ago.