Well Lee, it's a conflict between DOW regulations and state law. When Colorado first passed the concealed carry bill the Department of Wildlife refused to recognize it, saying something like "we don't want our wardens confronting people who may have concealed weapons". The DOW seemed to think they could just make their own laws, which they do to a great extent. The state legislature had to confront the DOW and tell them it was a matter for the state. So, the DOW, just to show their arrogance, threw a fit and proclaimed "well OK then, just let everyone carry concealed weapons". But that is not really something they have any right to decide, so we have the situation where, according to DOW regs, anyone, without a permit, can carry concealed while hunting or fishing. It is OK with the DOW, but you still would be in violation of state law, just that the game warden will not enforce that law. I don't believe there has been a court case as yet where a state cop or county cop has arrested someone for concealed weapons and that person protested that they were legal according to published DOW regs but it seems sure to happen and I'm sure that person would be screwed. Of course, while hunting one is many times more likely to encounter a game warden than any other sort of cop, but you'd be on shaky ground if you did encounter a deputy while hunting with a handgun under your coat.
It is the state carry bill that decrees that if one has a concealed weapon permit, said weapon must be concealed at all times. That's what happens when you get a bunch of lawyers together.