Here's some short sale and distressed sale data from economist Tom Lawler via Calculated Risk.
This data is pretty spotty data, but interesting. According to Lawler's aggregated data, short sales were 6.5 percent of sales in Colorado during September 2012. Which was up slightly from 6.1 percent during September 2011.
Note that Colorado's proportion of sales that are short sales is much lower than most other markets. I don't have enough info here to know if this is a data issue or if it's a fair comparison.
Colorado also appears to have a smaller share of distressed properties than most other markets, with a proportion of 18.7 during September 2012, which is down from 25.8 percent during September 2011.
This is just a snapshot of some data, although it would further reinforce the notion that Colorado, which began dealing with foreclosures a few years before other markets (beginning in 2004) may be ahead of other markets in working through its foreclosure issues.