Because the NOOKcolor runs Android, there is quite a few unused software features within the device. Other than minimal storage usage, you would think this isn't a major problem. However, your NOOKcolor running the Cell Standby process can severely drain your battery life.
Because the device is not a phone, running this process is essentially useless, and thanks to XDA member xboxexpert, we now have a way to remove this and, in turn, get improved battery life from the NOOKcolor.
The developer had noticed his battery life skyrocket after he removed the process via script. This makes sense because the Cell Standby process in Android devices accounts for the most common battery drain.
If you would like to have quite a bit more battery life on your Nook, then head over to the XDA hack thread for instructions on how to download this script and remove the process.