The Collaborative International Dictionary of English v.0.48:

Collocution \Col`lo*cu"tion\, n. [L. collocutio, fr. colloqui,
   -locutum, to converse; col- + loqui to speak. See
   Loquacious.]
   A speaking or conversing together; conference; mutual
   discourse. --Bailey.
   [1913 Webster]