Update January 27: Technical climbing crews were on hand at the side of recent rockslides along Red Mountain Pass/US 550, installing wire cable netting to stabilize boulders that continue to plague the road below.
The alternate route south toward Durango, Cortez and beyond is SH 62 to SH 145 through Telluride, and US 160.The Colorado Department of Transportation says that work will continue through at least Tuesday, and there's still no estimated time for when the road could re-open.
Update: 12:30 PM (January 15): CDOT has confirmed that US 550/Red Mountain Pass two miles south of Ouray will be closed at least through this weekend (until Monday, January 20.) Rocks have reportedly been continually falling on the road near mile marker 90 as crews try to clear the rubble.
Kerrie Neet, the regional director for CDOT, acknowledged that motorists in southwest Colorado don't have many alternative travel options, saying "there is a hardship anytime we close this pass."