The first part of the storm was mostly a failure with the jet streak departing to the east overnight to get involved with a developing low-pressure system which is bringing rain, snow, sleet, and ice to the plains states. We still have a weakening trough to our west progged to come through the area between 9 am and 2 pm. There are questions as to how strong it will be when it comes through. This system is going to do everything it can to get past Colorado and get absorbed into the developing system to the east.
Split flow systems like this look very enticing especially early in the modeling where they kind of lump everything together and show a perfect scenario, as time goes by they start to dissect all of the pieces and parts and highlight certain parameters. Frequent changes right before the systems are set to impact is generally a bad sign, but when you see the totals on the models come up hours before the forecasted onset of precipitation, forecasters who like snow (including myself) tend to believe what they are seeing because it is exactly what they want to see, it is a common condition I refer to as Wishcasting.
I do expect the snow to pick back up, but it will be the beginning of the end for most areas locally. Telluride and areas that favor NW Flow could see snow continuing this afternoon.
Here is a fun fact to remember, last January the last significant snow we got was on January 18th, then we were dry until February 6th. Last February we had 10 storms and set an all-time record for snow in February in most areas.