By default Colorbox Close button is on Bottom Right. However moving it back to top is as simple as changing Position of div from bottom to top. All I have done is change bottom: x to top: x for all child of cboxContent class. which include cboxLoadedContent, cboxTitle, cboxCurrent, cboxSlideshow, ,cboxPrevious ,cboxNext,cboxClose
Note for myself, and those who find it useful.