Hard to tell whether it's a strained system, or the "powers" have implemented some unannounced and unauthorized additional "hold" period. Nothing surprises me, anymore. Might call the CHL issuing authority in Colorado (the state police?), to inquire about recent delays beyond what's been typical. Likely they'll say the system's "slammed" with demand, though that's a guess.
About 20yrs ago, it wasn't infrequent for me to be awaiting "approval" for several hours to a couple of days. Never did determine if that was because of other matches against my name, or some other cause. I do know that on several occasions, at a shop, I had to speak with the CHL issuing/checking group on the phone to answer a couple additional questions to confirm my identity; so, yeah, I figure there was at least one other person out there with my name who'd been a baaaaad boy.
Currently living in a "red" state where: face-to-face private transactions aren't criminalized; if you have a CHL, the state issuing authority does monthly (?) scans to confirm someone holding an issued CHL hasn't somehow run afoul of the law since the last scan; and, if you have a CHL, purchases are lickety split at the FFL shop, since they simply check your CHL and hand you the gun.