ColEm is the ColecoVision videogame console emulator, that will run ColecoVision cartridge files with .cv, .cv.gz, .rom, and .rom.gz extensions, placed in “E:\Others\ColEm” folder (where you should also put the “COLEM.ROM” file).
Among many things, new version brings several usability improvements such as addition of the config menu, palettes, fast forwarding on non-QWERTY phones, and saved settings.
More information and (free) download instructions are available from here.