Atzmon's response was quite short, so the argument, one would have thought, is relatively simple. In essence he states that the current situation is not colonialism.
My first thought was that the difference was simply that this Israeli colonial project is different from the 19th etc. century type. Therefore, here I disagree with Atzmon. I think the format of the colonialism has changed and that there is a symbiotic relationship with the US hegemon which is a partly colonial project by the US in so far as the US gets to benefit from stirring up/control of the ME which is ultimately beneficial to the US. What Israel gets out of it is the land (and funding) ... i.e. Lebensraum vis-a-vis the US.
Perhaps I need to think/read more, but at the first glance these are my thoughts.