Hi Diabolo, welcome to the site.
As with everything, a photo would help immeasurably so we can see what you are talking about.
Also knowing in general terms where you live (the zone, or the state).
Colocasia and Alocasia are completely different in their needs, even though they are both aroids. Colocasia can indeed be grown in a bog, or in a pond, 'in the mud'. That is how I grow mine. They need almost constant moisture to their roots, especially if they are in a hot, dry climate.
I can grow mine in full sun here in Florida because its humid as hell as well as being extremely hot in summer. But someone growing in, say, the same temp in Utah or California or Arizona would have problems due to the dry air.
It would help to know what you potted your plant in. Also how long you have been trying to grow it. Fall is the season that Colocasia naturally start to kind of die back a little. As the temps gradually drop, getting into the 50's at night, they need to be removed from the water and allowed to dry out so that they can overwinter. Some will go completely dormant, others won't.
I grow one very similar to Limeade (in fact, some people believe they are the same plant with a different market name) called Midori. It can tolerate full sun for half to 3/4 day if grown as a pond plant.
I have already lifted it for the fall even though its still warm here, divided it and am letting it dry out for the coming winter.
I grow almost all of my Colocasia in water during the summer, by keeping them potted and setting them into tub gardens. Otherwise they would probably die as I cannot water everything, everyday