I am not sure how much exercising I could do with a full blown cold. Slight congestion is one thing but when exercising causes coughing that almost makes one fall off the bike that is a cold. I guess we have to determine what some consider a cold. Mine is accompanied by a fever, red nose, watery eyes, a caugh that starts in deep in my lungs. I haven't had a bad cold in a year or so and maybe the riding I have been doing has kept me from catching one this year. I thought I was coming down with one the other day but it looks more like it was allergies and it passed.
However my doctor has never reccommended more exercise while I was recovering from a cold so this is something I might print out and ask about. He reccommends rest and liquids.