The error I get is:
$ is undefined Line 8
which is:
$.colorbox({html:'<p>TEST TEST</p>'});
This is how the page renders:
<script type="text/javascript" src="/sites/all/modules/jquery_update/replace/jquery.min.js?Y"></script>
<script type="text/javascript" src="/misc/drupal.js?Y"></script>
<script type="text/javascript" src="/sites/all/modules/fivestar/js/fivestar.js?Y"></script>
<script type="text/javascript" src="/sites/all/modules/extlink/extlink.js?Y"></script>
<script type="text/javascript" src="/sites/all/modules/signwriter/signwriter.js?Y"></script>
<script type="text/javascript" src="/sites/all/modules/thickbox/thickbox.js?Y"></script>
<script type="text/javascript" src="/sites/all/modules/ubercart/uc_roles/uc_roles.js?Y"></script>
<script type="text/javascript" defer="defer" src="/sites/all/modules/admin_menu/admin_menu.js?Y"></script>
<script type="text/javascript" src="/sites/all/libraries/jquery/colorbox/jquery.colorbox.js?Y"></script>
<script type="text/javascript" src="/sites/all/modules/mysite/mysite_module/js/sasapp.js?Y"></script<--($.colorbox({html:'<p>TEST</p>'});)