I would advise you to go through formal recruitment and see how that goes, and then consider the colonizing sorority after you see how formal recruitment goes.
It is common for the colonizing organization to do at least a presentation or round at the beginning of recruitment to make sure that the PNMs get a feel for them and then step back and recruit after formal recruitment.
You would only be out of the running for a colonizing sorority if you went through formal recruitment and signed your bid card after pref night and were matched with a house.
Which would mean that you would have a bid! Otherwise (if you withdrew yourself from formal recruitment or if you were cut by all the houses on your campus) you would be eligible to go through the colonization process even after participating in formal recruitment.
The colonization might end up being your best chance of getting into a sorority depending on your campus culture and how competitive it is (sorry, not familiar with ASU so I can't speak any specifics), but you won't lose anything by going through formal recruitment and colony recruitment is by no means a given. Colonies are very selective in the first members they choose.
Colonizations are time consuming and need committed members (it sounds like you would be committed to any organization you join...and that is great!), but at the same time not every colony member needs to be involved on the highest level of involvement. That's to say...you can be a regular colony member and not run for any leadership positions and that will allow you more time to do other extracurriculars. If you find later that you do want to be a leader in your chapter and you have the time then by all means do it, but I think that being a regular colony member can be balanced with many other things (doing well in school, being involved in other clubs, etc.) as long as you manage your time well. And managing your time well is a skill you should learn now because it will help in the future.
I will also say that I don't know specifics about Alpha Omicron Pi colonization, but two of my best friends were colony members for two different sororities on two different campuses and each of them still had time to do other extracurricular activities. I know every sorority and every campus can be different, but it's not like their life became solely about the colony once they joined. Sorority members find ways to manage their time so that they can be involved in their sorority and other activities.
P.S. Make sure you get recommendations for ALL the sororities on your campus...including the colonizing sorority! Some sororities require recommendations for you to be eligible to receive a bid and it's a simple thing to do. Best to put your best foot forward and be safe than sorry
I would start thinking about recommendations now. If you need help with finding recommendations, this thread might help:
http://www.greekchat.com/gcforums/sh...d.php?t=224976
