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Aussie Kewell produced the game's most memorable moment in the 39th minute with the only goal of an entertaining match.
Kewell beat two defenders on the right, sped into the box, and dummied past a third defender before thumping a left-foot shot into top of the net.
Colo Colo were the better side in the first half-an-hour but with Bowyer dominating affairs in the middle of the park Leeds fought their way back into the match.
Manager Venables described Kewell's goal as "a bit special" and expressed his satisfaction with the teams overall performance.
"I was quite happy, it's a good result.
"They're a very good side in the peak of their season.
"It was a good test for us, because I don't think we're quite as far ahead in our preparation as they are."
LEEDS: Robinson, Mills, Harte, Bakke (Burns 82), Matteo, Woodgate, McOPhail (Wilcox 45), Smith (Keane 45), Viduka (Bridges 45), Kewell (Fowler 45), Bowyer (Dacourt 45)
Leeds finish their Far East tour with a game against a Bangkok XI in Thailand on Tuesday.