Last I knew it was still up and running. I met a few of the DU brothers at the 2003 TGI Institute in Denver. Sounded like they were on a bit of thin ice with the administration at the time, but they were still around last I knew.
There's nothing on either the public or private sides of SAE's national website to suggest the Colorado Zeta Chapter is anything other than an active chapter, so if anything has happened, it's recent enough that it hasn't been posted yet.