The current order will continue to be legally effective until it is modified;
The court that will have jurisdiction is the court that has issued prior child custody orders, unless the court waives that jurisdiction and allows another state to exercise it, but normally the home state continues to have "continuing and exclusive jurisdiction" under the Uniform Child Custody Jurisdiction Enforcement Act.
So for a court order, the parties cannot, between themselves, alter that, as it is the judge's role to determine "the best interests of the child".
If the parties do agree to a contrary arrangement, the court can take that into consideration and if they feel that it is in the child's best interest, they can modify the current order so that the informal arrangement is given effect.
For children in their teen years, normally the court will give due consideration to that child's preferences when it comes to custody issues, provided the reasoning is based on mature rationale. The court will likely look to the child's behavior (grades, etc) in CA and compare that to how the child is doing in CO. Those are all factors that will help the court determine the best interests of the child and to make an order that furthers this.
But until there is a new order, the existing order has the full force of the law.
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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.