No, you won't owe CO tax if you have a rental loss. You have no net income for Colorado, so there will be no tax. Even though this is the case, however, you may still choose to file a Colorado return. This may be the case, for example, if you claimed positive rental income in a prior year to Colorado. But, without any net income, you are not required to file a Colorado return, and you won't owe tax to Colorado.
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So glad someone else had the same question!
As an extension - when I do the calculations manually, I come up with a $-92 tax. How does that work with taxes?