Colin will almost certainly not become a strong hurricane or reach landfall as a hurricane, so we should be looking out for Danielle the next name in the sequence.
According to NOAA, Colin will continue to strength and follow a WNW path until curving north. It will maintain tropical storm status or possibly (ca 25% chance) reach low level hurricane strength at most between 1.4 and 4 days from now and stay that way for a few more days without strengthening. After that, the models diverge so a lot of different things could happen, but most likely dissipation.
(Keep in mind, of course, that a tropical feature can under certain conditions reorganize and become a factor again, though that is not likely here.)