A deferred judgement is certainly preferred over a conviction. It gives you the chance, if you complete it successfully, to later have the guilty plea withdrawn and the case against you dismissed. You would not have a conviction and you may later be able to have the record sealed. It can only be given if the prosecutor agrees to it. It is usually achieved through plea bargaining with the prosecutor. It would help if you had a lawyer negotiating for you, as the prosecutor may not otherwise offer it, and you are not automatically entitled to one. A lawyer could also file a motion to appear for you in court at some or all of your proceedings, and save you having to travel back from out of state. You may also be able to have any supervision of your sentence transferred out of state. You can call me at 970-985-1064 or 970-263-8888 if you have any other questions
Your best chance of someone getting this resolved for you and having a chance at a deferred judgment is to shop around Denver for criminal defense attorneys. Most of us offer free consultations and I recommend Mr. Buckley and Mr. Lubchencho
The information provided in this answer does not create an attorney-client relationship. If you are interested in his legal services, feel free to call Chris at (303) 409-7635 at his law office in the Denver Tech Center. All initial consultations are free of charge.
If you are not going to be in Colorado for your court date, I strongly suggest you hire counsel to be there for you. If you do not appear, a warrant will issue for your arrest. A deferred is like probation with a chance to have the case dismissed if you are successful in completing the necessary conditions. It is a possibility that you can qualify for he Interstate Compact agreement, which would allow you to do your sentence in another state.