A never made Question
Ironically, I'm Colombian, and I never make that question to myself(Panama is a bitter memories for us, but no so irrendentia like Anzofagasta for bolivia, because panama in general was like Choco, a litter poor area), well, now i try to answer that in the expirience of suez channel:
At the moment of the channel, Columbia Fight their last civil war( Guerra de los Mil Dias/Thousand days war), and was economically and politically wrecked, for that the americans obtain panama... with the french there, i think Los Conservadores(The Conservatives, the ruling part) power will beg to the french to protect panama de Los Liberales Radicales(Radical Liberals, a splinter cell of El Partido Liberal/Liberal Party), and make a garrison there or become a international area in Colombia Soil(much like was nominally the suez channel before the suez war), besides a little influx of capital(that is well inverted can make a lot of butterflies), the changes will be than being more close to the french... maybe even taking part of WW1 or demand the total neutrality of the Canal Area until the u-boat bullshit(I'm of some german heritage) even make jump in the final areas of the war
interbellum similar.... but for ww2, maybe if the french are defeated like OTL, both free french will ask to us to reclaim Panama Canal area to protect them.... and that will make another scandal like the suez war post bellum(but no so violent, i think the american will dictact on favor of Colombian by all of the post colonialism speech),
In general... More Stronger Comercial and Political Link with the France(having French like a second intruction language beside the english currently), and that will make some interesting butterflies with Colombia internal conflict(more easily beaten, a negotiate peace or more bloddy that before), but that is more income for columbia than maybe will be stole by corruption or maybe not...
And I'll no have a big reason to hate the american like now but still if the behave like OTL...)
that will be a Half full glass for columbia, great POD