The token doesn't copy whether Colorstorm Stallion is tapped or untapped, whether it has any counters on it or Auras attached to it, or any non-copy effects that have changed its power, toughness, types, color, and so on.

The token copy will have Colorstorm Stallion's ability and will be able to create copies of itself.

An opus ability resolves before the spell that caused it to trigger. It resolves even if that spell is countered or otherwise leaves the stack.

In the unusual case where Colorstorm Stallion becomes a copy of something else while its triggered ability is on the stack but before it resolves, the token will enter as a copy of whatever Colorstorm Stallion is copying.