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According to that chart, pick #22 is roughly equivalent to pick #37 plus pick #69. I really doubt Colbert would move back 15 picks just to pick up an early 3rd round pick. Just doesn't seem like him. He always says that he doesn't want to trade down into an unknown (i.e. you have no idea what will be left at pick #37). He believes that if you are sitting at #22 and have 5 guys you like, then it's OK to drop down 5 spots. And of course he has only traded down (in round 1) once, going back 3 spots before taking Casey Hampton.
I don't think he would make that trade either, but I think I'd do it. I think we could get good value in positions of need out of an early 2nd and early 3rd to go with our other 2nd and 3rd picks. I'm also not convinced that those need positions we have will have good value at 1.22.
A more likely trade-down would be to 1.26-1.28, I'd think.