Colon would make around $2.5 million this year if the Steelers tender him a contract. While that is good money, it cannot compare to what, for example, left tackle Max Starks received from the Steelers. They signed Starks to a four-year, $26.3 million contract in June. That averages to about $6.6 million per year.
Colon seems to be improving, but he's had a highlight reel of false starts and bad whiffs. RT pay should scale lower than LT, and IMO if the new OL coach moves Colon inside, then I don't see him commanding big money at OG.
Once they figure out a contract strategy, maybe the PG can headline something like Impacted Colon relieved that blockage is past.