
Allen, who was making his 100th Saddlers appearance, picked up a booking in either half and was issued with a red card by referee Lee Swabey following an off the ball incident.
Issued via his official X account, Taylor said; "I apologise to the fans and the group of staff and players for my actions.
"I understand an apology isn’t enough, but I learn and react positively to do my best to help the group."
The match itself saw the Saddlers suffer their third away defeat in a row as, despite Charlie Lakin giving his side a second-half lead, goals from Teddy Bishop and Owura Edwards saw the U's take all three points.