Newcastle won their subsequent appeal against the sending off and Coloccini is now available for Saturday's Premier League visit of Stoke City.
"It is justice," Coloccini told the club's website (www.nufc.co.uk). "It is not a surprise to me that the red card was overturned because it was a wrong decision.
"I am happy because I am able to play against Stoke, but it does not change what happened on Sunday. The red card affected the game and the result, which was very painful for everyone in the club and the city.
"We lost the game, we lost three points and we lost the derby. We cannot get that back, and that is why I cannot be too happy about winning the appeal -- it does not change these things.
"As soon as the referee gave the red card, I knew it was wrong. I spoke with the referee but he had made his decision."
The FA, however, have charged the club for "failing to control their players in relation to their reaction to the match referee's decision".
Newcastle sit second from bottom in the league table with six points from 10 games, two points ahead of Aston Villa and below Sunderland on goal difference.
(Reporting by Simon Jennings in Bengaluru; editing by Sudipto Ganguly)
