In Colorado - only 4 counties have not reported 100%:
Hinsdale - population 790.
Boulder - Strong Dem (68% - 29%)
Arapahoe - Lean Dem (50% - 46%)
Chaffee - Lean Dem (47% - 46.5%)
Because of this, Buck has no way to catch up. Colorado election law triggers a recount at 1/2%. Right now, the margin is .46% (Incorrect - see below).
In an otherwise dismal night, the Dems actually did OK in the Centennial State. Colorado is now bluer than Illinois. Hickenlooper won with over 50% of the vote which means that even if Tancredo would have gotten Maes to drop out and if he would have gotten all of his votes, Hick would still be the gov.
The Tea Party really backfired here. Of course, it started with the implosion of Scott McInnis - caught plagiarizing and then trying to blame the researcher - all the while collecting $300k. That led to Maes being elected in the GOP primary. Maes had major issues, not the least of which was lying about his past and the total lack of help by the GOP establishment. It looked like Tancredo was surging, but that was just a mirage.
For the Senate race, the GOP establishment candidate Jane Norton got beat (barely) by Ken Buck. Buck is a teabagger, but he is much smoother than Angle, Paul, O'Donnell or Miller. But his views on abortion and his failure to prosecute a rape case may have been his undoing.
Blue Dog Betsy Markey ran one of the worst campaigns I've seen. She was constantly running away from Obama or any Dem achievements. She tried to paint her opponent as a life-long politician when he has owned a family farm for many years. She lost handily.
John Salazar ran a better campaign, but I don't think anything would have saved him this year.
Perlmutter, Polis (my rep and the first only gay man to win his seat [Barney Frank came out after his election]) and Diana DeGette all won their races.
As far as the initiatives are concerned - basically all failed. The tax initiatives (60,61 and 101) were defeated pretty handily. The 'personhood' amendment failed 70-30. There was even an amendment stating that Colorado cannot be 'forced' to take federally mandated healthcare that failed (though narrowly). The only one that passed was allowing the capital to be move during emergency circumstances.
Update 1: Somebody beat me to the punch. I'm leaving this up because of my awesome analytical breakdown :)
Update 2: So now the front-page is scooping me :) Also, per this comment below by BY - the recount is based upon the percentage to the highest vote total (the winner) not on the total vote. We are out of recount territory now.