In Colorado the law for pedestrians is:

"As a pedestrian, you should avoid walking on the traveled
portion of a road. When there is no sidewalk, you should
walk on the outside of a curb or painted edge strip, if either
exists. When walking along a road, you should walk on
the side facing traffic."

I assume that bike-specific lanes are a part of the 'traveled portion of the road' whereas the shoulder would not be.

Our rules for bicycles get more specific, though:

"Any person riding a bicycle shall ride in the right-hand
lane. When being overtaken by another vehicle, ride as
close to the right-hand side as practicable. Where a paved
shoulder suitable for bicycle riding is present, ride on the
paved shoulder. These requirements shall apply, except
under any of the following situations:
• When overtaking and passing another bicycle or vehicle
proceeding in the same direction.
• When preparing for a left turn at an intersection or into
a private road or driveway.
• When reasonably necessary to avoid hazardous
conditions, including but not limited to, fixed or moving
objects, parked or moving vehicles, pedestrians,
animals or surface hazards."

So pedestrians are classified as 'hazardous conditions'?!?

In summary I'd say that our law states that a bike (a vehicle) should pass other vehicles on the left but should keep as far to the right as possible while still avoiding the 'hazardous conditions' running on the shoulder.

I've never seen a pedestrian in an on-road bike lane. That would make me pretty mad and I suspect that anyone that has tried that here has encountered some degree of hostility, just as you'd expect that running down the center of a traditional lane. We do have several paths that are marked as bike-only, divided by direction. These tend to be in areas where there is fast-moving bike traffic and a separate path is provided a few feet away for pedestrians. For some reason, though, pedestrians of all sorts seem to prefer the bike path. The ped path is always empty, the bike path is constantly filled with people walking the same direction in both lanes, or worse, stopped and chatting up a storm while their dogs run loose. I really don't get it. Maybe I am the ignorant equivalent of a guy yelling to a bike 'get on the sidewalk!' but I don't understand why the ped-specific path isn't a better choice for them. It is far less crowded & dangerous, it is 5 feet away, and it goes to exactly the same place...

Smilingcat, that's really odd that the runner motioned you to pass on the incorrect side. I suppose that they were just trying to be helpful, to let you have 'your' lane without properly understanding the rules of the road? But talk about making things confusing!

Anne