"...He has now reconciled you in His fleshly body through death, in order to present you before Him holy and blameless and beyond reproach - 23 if indeed you continue in the faith firmly established and steadfast, and not moved away from the hope of the gospel that you have heard" (Colossians 1:22-23 NASB)
The passage is very clear, so what your doctrine does is say the only thing that not continuing in faith does is cause you to be presented NOT holy and blameless before God, insisting that is not a salvation/eternal life issue. But we see in Hebrews that without holiness (sanctification, set apartness) no one will see the Lord:
"14 Pursue peace with all men, and the sanctification without which no one will see the Lord. " (Hebrews 12:14 NASB)
So, from here, instead of just going with what the plain words say, OSAS adds the words 'in you' to 'no will see the Lord' to keep the passage from meaning the unholy person (the person who did not continue in the faith) will not see the Lord as a result of not continuing in the faith. But we see in Revelation that salvation is very much about seeing the Lord in the holy city, the New Jerusalem:
"3 There will no longer be any curse; and the throne of God and of the Lamb will be in it, and His bond-servants will serve Him; 4 they will see His face, and His name will be on their foreheads." (Revelation 22:3-4 NASB)
The New Jerusalem where nothing unholy is allowed in, the unholy things being on the outside of the New Jerusalem:
"23 And the city has no need of the sun or of the moon to shine on it, for the glory of God has illumined it, and its lamp is the Lamb. 24 The nations will walk by its light, and the kings of the earth will bring their glory into it. 25 In the daytime (for there will be no night there ) its gates will never be closed; 26 and they will bring the glory and the honor of the nations into it; 27 and nothing unclean, and no one who practices abomination and lying, shall ever come into it, but only those whose names are written in the Lamb's book of life." (Revelation 21:23-27 NASB)
The place for these unholy people being the lake of fire, not some convenient place of salvation without rewards somewhere in between the kingdom (where holy people see the face of the Lord, not the unholy) and the lake of fire where the unholy get their part:
"7 "He who overcomes will inherit these things, and I will be his God and he will be My son. 8 "But for the cowardly and unbelieving and abominable and murderers and immoral persons and sorcerers and idolaters and all liars, their part will be in the lake that burns with fire and brimstone, which is the second death."" (Revelation 21:7-8 NASB)
15 Outside are the dogs and the sorcerers and the immoral persons and the murderers and the idolaters, and everyone who loves and practices lying." (Revelation 22:15 NASB)
Actually, what it says, and which we just read above is you have to be qualified to have eternal life (you can not be unholy), and, thus, live with God eternally, seeing him. And the qualification is sanctifying faith, which continues to the very end. But somehow a lot of people think any qualification whatsoever, even the qualification for a continuing faith, is a works gospel. But no one can produce the scripture that says continuing in faith to be saved is the works gospel the Paul warns about.
You're simply not understanding. By definition, no one in the lake of fire possesses eternal life. They either never had it, or they lost it before they got there through a careless neglect or contempt for the forgiveness they received for their sin debt, and as a result got that sin debt reinstated. Jesus plainly said that's what the kingdom is like.
Done.