IANAL, but can read, and I think many people here are totally missing what this ruling actually says and doesn't say. It says the standard that Colorado used in this man's trial was too loose and would theoretically allow for conviction of protected speech. They did not say the speech in this case was definitely protected. They did not say it wasn't threatening. It's quite possible that if Colorado now chooses to retry the case that a jury would still decide he was guilty under the stricter standard too, but they have to retry him with a trial and jury working under that stricter standard, so that the overly loose law can't be used to theoretically restrict protected speech under the first ammendment in the future. The supreme court just corrected the standard Colorado was using and kicked it back to them, they did not exonerate the guy unless Colorado chooses not to try him again. The headlines are all being written to be extra inflammatory and misleading.

Just to take it to an extreme and make it extra simple, let's say we pass a law that says, you are guilty of murder if you are anywhere vaguely near where someone was killed. A guy is caught on video clearly murdering someone. They take him to court and tell the jury in their official jury instructions, if this man was vaguely near where the murder occurred he is guilty. They of course find him guilty. Supreme court steps in and says, wait, sure he's probably guilty, but the standard you had the jury judging him by was ridiculous, that can't be the standard for a murder conviction, and would probably result on infringement of multiple constitutional rights if you keep using that standard. Do a new trial with a better standard.