Here is the press release. There is no mention of Courtney Taylor though the game notes indicate Taylor is now an active player:
Renton, Wash. – The Seattle Seahawks have released wide receiver Keary Colbert, the team announced this afternoon. Colbert originally joined the Seahawks on September 17 after the team traded a 2009 undisclosed draft pick to the Denver Broncos.
He played in seven games with four starts for Seattle, posting seven catches for 52 yards and one touchdown. He also played in two games with Denver to begin the season.
Originally a second-round pick (62nd overall) by the Panthers in the 2004 NFL Draft, he started 42 of 55 games for Carolina and had 109 catches for 1,424 yards with seven touchdowns. He had a career-year in his first season, when he set Carolina rookie records for catches (47), yards (754) and touchdowns (7).