By and by a denizen of soc.culture.spain wrote: "Colitas is little tails, but here the author is referring to 'colas,' the tip of a marijuana branch, where it is more potent and with more sap (said to be the best part of the leaves)." We knew with an instant shock of certainty that this was the correct interpretation. The Eagles, with the prescience given only to true artists, were touting the virtues of high-quality industrial hemp! And to think some people thought this song was about drugs.
OUR SUSPICIONS CONFIRMED
This E-mail just in from Eagles management honcho Irving Azoff: "In response to your [recent] memo, in 1976, during the writing of the song 'Hotel California' by Messrs. Henley and Frey, the word `colitas' was translated for them by their Mexican-American road manager as 'little buds.' You have obviously already done the necessary extrapolation. Thank you for your inquiry."
I knew it.