I have a 3008W and I tow with a 3/4 ton diesel pickup. I've tested 4 hitches in back to back tests. One was an Andersen. As others have said, it doesn't transfer as much weigh back to the front as one would like. I've been to the scales with all 4 hitches so I know exactly how they perform. Loaded, with no WD my trailer axles carry 7680lbes, with 950 lbs on the tongue. Again with no WD, the front axle lightens 380 lbs. With the Andersen optimally adjusted, I could get a max of 50% of that weight back to the front.
On my truck, I technically don't need WD for this trailer. The main benefit is sway control. However, if enough weight isn't transferred back to the front, the ride is very harsh. In back to back tests with the Andersen and my 10,000 lb Equal-I-Zer, the unanimous choice of my family was the Equalizer due to a much better ride.
However, even the properly adjusted Equalizer didn't transfer more than 68% back to the front. I discussed this with the Equalizer people and they recommended that I go with their 12,000 lb hitch because my tongue weight is right at the max for my original hitch.
Equalizers are a bit noisy so instead, I decided to try a Blue Ox Swaypro 15,000. The Blue Ox is very nice to hook up, totally silent and easily transfers 100% of the weight back to the front. The ride is great, and thee is no sway. The downside is the handling is a bit squirrely when going around curves. I put on over 5000 miles travelling through the Rockies back in September so I gave it a pretty thorough test. In the end, I decided good handling trumped noise, so I went for the 12,000 Lb Equalizer.
The bottom line is the heavier Equalizer works great. I get 90% weight transfer back to the front, no sway, handling is great and the ride is only slightly harsher than the Blue Ox.
On your truck, I would not recommend the Andersen since I don't think it will provide adequate weight transfer. Your ride and handling will be seriously impacted. I originally towed my trailer with a Tahoe, which is a more substantial vehicle than your Colorado. It was not up to the task at all and provided plenty of white knuckle moments, as well as providing very poor mileage while towing. The move to the bigger truck happened shortly thereafter. I'm afraid you will find similar issues with your situation. At the very least, I'd put LT tires on if you don't already have them. They are much stiffer and will squirm around much less while towing.
If you would like to see the weigh station results for all of the different hitch combinations, I have them in an XL spreadsheet. I'd be happy to provide them to anyone who is interested.