Colorado is a fairly unique state for Architectural Registration. The vast majority of states now require that applicants for licensure have a NAAB Accredited Professional degree for initial licensure. The two options are the Bachelor of Architecture and the Master of Architecture degrees. Colorado does not require that you have one of these degrees if you have enough experience. In fact, you can become licensed in Colorado without any college degree at all if you have 2,350 days of experience.
For more information click on the chart above. It is pulled from the Bylaws, Rules and Policies of the State Board of Licensure for Architects, Professional Engineers and Professional Land Surveyors.
There are definitely still advantages to the B.Arch and M.Arch routes. I have a NAAB Accredited Master of Architecture degree which makes it possible for me to register in any state and the provinces of Canada.