# that you will walk in a manner that is worthy of the Lord and that pleases him

Walking here signifies behavior in life. Alternate translation: "that you will live as God expects you to and so please him" 

# by bearing fruit in every good work and growing

Paul is speaking of the Colossian believers as if they were trees or plants that grow and bear fruit. Alternate translation: "by making sure that all of your good works please God and people and growing" 

# growing in the knowledge of God

"always getting to know God better" or "always learning more about God"