Tissue polarimetry holds great promise to improve the effectiveness of conventional cancer diagnostics and staging, being a fast, minimally invasive, and low-cost optical technique. We introduce an enhanced diagnostic method for ex vivo colon specimens assessment by utilizing Stokes and Mueller matrix polarimetry. The proposed method makes use of experimental Mueller matrices, measured from healthy and tumor zones of a colon specimen, as input data for post-processing algorithms that include physical realisability filtering, symmetric decomposition and estimation of various polarization and depolarization metrics for colon specimen diagnostics. We validated our results with the gold standard histological diagnostics provided by pathologists. It was found that the Stokes-Mueller matrix polarimetry, combined with the appropriate filtering, decomposition algorithms and polarization/depolarization metrics calculations provides relevant optical markers of the colon tissue pathological conditions (healthy versus cancer), as confirmed by histopathology analysis. This approach potentially provides physicians with valuable and complementary information that holds promises in helping with the diagnostics of colon tissue specimens.