Given his all or nothing start he has regressed in value from 2013 IMO. Still his agent has to think, given what Upton and Jones got, he has a shot at 3-5 year deal at 11-15 mm per, depending on how 2013 closes for him.
There is no harm in AA seeing if Colby is interested in reducing his risk, but it would have to be a pretty solid Jays friendly extension to be worth our risk. We have other considerations at the same time such as Melky, Casey, Morrow option, Reyes hits 22mm etc etc
just my view