"Do not let anyone who delights in false humility and the worship of angels disqualify you for the prize. Such a person goes into great detail about what he has seen, and his unspiritual mind puffs him up with idle notions." NIV translation
Now, Paul introduces the fourth error that had gotten into the church which is mysticism. This speaks of the religious people who only had an outward appearance of godliness. They left Christ out of their faith and took great pride in themselves and their "spiritual" walk but they are not walking with Jesus. This false system of religion will be judged as we see in Revelation 17.
Without being connected to the head a body may flop around for awhile but it will not last and will accomplish nothing. That is how Paul describes these mystics as they flop around without the direction of God through the Holy Spirit. The ligaments and sinews speaks to action as without them, nothing can be done physically. When we were babies, we all had to learn how to operate these bodies that God gave us and the same applies to our walk with the Lord. By following Christ's leading through the Spirit, we will be able to put our faith into action and, as we grow, He will show us how to use our bodies to their true potential for God's glory. This is true for each of us individually as well as for churches (groups of believers). If a group of believers is being taught and led by one that does not understand how to use the power that God has given (by listening to the Spirit), we can't expect much to happen in their lives or the life of that local group.
"Since you died with Christ to the basic principles of this world, why, as though you still belonged to it, do you submit to its rules: 'Do not handle! Do not taste! Do not touch!'" NIV translation
Paul now addresses the fifth error that had crept into the church and that is following the latest fad in religion. As we see here, they would try to add a few rules to grace and this list of rules causes division.
The list would change with the times and the wisdom of men and the same thing is happening even more today. There are so many denominations and divisions in the body of Christ simply because of men not completely embracing the grace of God. Paul reminded the Colossians (and us today) that we have nothing to do with religious law as we were freed from religion at the cross of Christ.
"These are all destined to perish with use, because they are based on human commands and teachings. Such regulations indeed have an appearance of wisdom, with their self-imposed worship, their false humility and their harsh treatment of the body, but they lack any value in restraining sensual indulgence." NIV translation
Paul concludes with the fact that none of these rules have any value because they do not have the power to save as that was accomplished only through the blood of Jesus Christ. There are those who grab ahold of the latest teaching as if it was going to save the world but, as we see here, they are all destined to fade when the next latest greatest teacher comes along.