Run away from an exhilarating experience in colony (7)
I believe the answer is:
anthill
'colony' is the definition.
(where a colony of ants lives)
'run away from an exhilarating experience' is the wordplay.
'run' becomes 'r' (cricket abbreviation).
'away from' indicates named letters should be taken away.
'exhilarating experience' becomes 'thrill' (something thrilling).
'an'+'thrill'='anthrill'
'anthrill' with 'r' removed is 'ANTHILL'.
'in' acts as a link.
(Other definitions for anthill that I've seen before include "Mound of insects" , "Nest" , "Scene of great activity" , "Termite mound" , "Built-up colony" .)