Yeah, and I'm sure Michigan had nothing to do with those numbers at all.
The real issues are that Jourdan Lewis might be out for the game, which makes it harder to match up with 3 and 4 WR sets. Plus, Peppers, who erased all sorts of WR screens last year, was deployed in the box instead of on the edge in screen situations against UCF. Michigan absolutely had an elite passing defense last year because they could put 6 good defensive backs on the field while not really losing much pass rush. If Peppers stays in the box and Lewis doesn't play, that goes down to 4 good defensive backs, which is not ideal against Colorado. This is somewhat simplistic, but if you can stop Colorado's screen game, Michigan probably gives up less than 10 points. Their DL should dominate Colorado's OL, and Colorado moves the ball the best with that screen game. Take that away, and Michigan should have little problem stopping them consistently.
I'm actually more worried about Michigan's offense. Those issues with the defense are largely fixable with scheme. But the offense struggled to run the ball against UCF, because UCF just stacked the box with 8+ players every play. They still got torched in the air because they're UCF, but CU's secondary is ... maybe above average? This is Speight's first real game. Can he bomb the CU defense like he did UCF (by the way, by recruiting rankings, the talent at these two schools is similar)? It's definitely more of an interesting game than I thought even a month ago.