No, you cannot transfer points to a colleague. Only to a spouse or domestic partner. However, you can make a reservation in your colleague's name using your points.
From the MR site:
You can transfer your points to your legal spouse or domestic partner at time of reward redemption provided he or she is also a Marriott Rewards member.
To transfer points, please contact Marriott Rewards Customer Support at 1-801-468-4000.
I believe if you look at the fine print, you actually have to be the member staying. This is not always enforced, however. I did have one experience where I did exactly what you are indicating, Newhiltonmember, and they were asked for I.D. It was my sister, who had a different married name. It was embarrasing for her, as it held things up a little while. They called me, etc., etc.
Ended up giving her the room, but I was a little mad and distracted by the whole thing, so since that time, I put both my name as well as the other party's name on as well. Plat Reservations (rewards) can only add one additional name, but they will call the property for me to add more then one, if it is necessary based on something like people arriving from 2 or 3 different locations and not being sure who may arrive first, and therefore need to be the one checking in first with name on the reservation.
The basis for this proccedure seems to be the sending of the electronic awards voucher number which is all done behind the scenes, and apparantly can create a name matching error since it can take up to 48 hours for it to get sent out. Hard to mate the reservation and voucher to 2 different names unless manually monitored.
Seems like a pain, but I am so used to doing it now this way that it doesn't seem like much of a hassle anymore.
MAKES ME WONDER WHY AND THE HECK EVERYTHING HAS TO BE SO COMPLEX THESE DAYS, YA KNOW????
I have never had a problem "gifting" a room since I began this procedure. - AL