I released the new version 4.3 of jQuery Colorbox today. Check it out 
Get it here.
If you have any problems, then please report them at the WordPress Support Forum
Changelog:
4.3 (2012-03-12)
- NEW: Romanian translation by Luke Tyler
- CHANGE: Ukrainian translation updated by Jurko Chervony
- CHANGE: update to Colorbox 1.3.19
- CHANGE: gracefully add CSS style “colorbox-link” to TinyMCE style dropdown
- CHANGE: use plugins_url to make links HTTPS aware
- CHANGE: increase z-index of Colorbox and overlay to 99999 since Twentyeleven has a Header z-index of 9999
- CHANGE: removing meta tag from header since it’s not HTML5 compatible
- CHANGE: pulled all links to company sites of translators on request by WordPress staff
- CHANGE: successfully tested with WordPress 3.3
- CHANGE: Plugin name now translatable
- CHANGE: Defaults are now used if JavaScript options can’t be set because of JavaScript minimizers