The ruling won't affect anything if it gets appealed higher since they won't take a lower court's ruling as factI'm sure the Trump team will appeal if the Colorado Supreme Court rules against them, yes, and the same may be true for the prosecution. If it does ultimately stand as-is, the ruling that Trump did engage in insurrection will give Jack Smith more ammunition, not that he needs it.
Each higher court must make its own determination. It doesn't make sense for the highest court to take judgement from the lowest court.
After all if that was the case they would simply agree Trump doesn't fit the definition as an officer of the US and the whole thing would be over.