Can a colossal be assigned one of the fragments from the Phoenix Force? Since they count as relics still does it count as equipping them and thus not possible since a colossal is a non-standard and can't be equipped? Anyone who can point me to a ruling either way would be helping me quite a bit.

Resources have nothing to do with equipment. Resources do not care about the character being standard or not.

From WIN:

[C]Only game elements that specify they are "equipped" and have an EFFECT listing are considered equipped items