I called Colt this morning. They said it wouldn't be covered because I'm not the original owner.
I hope this doesn't tempt you to try The Dowel home repair method. Even if someone else got lucky...
BTW, AFAIK, Python barrel threads are right handed, so aligning the barrel by simply turning it would tighten, not loosen it. Excess barrel material at the base of the threads would add tension to an already-tensioned area. Yours looks to only need a degree or 2 or 3 of rotation, and at 36tpi (newer Python thread, IIRC), may not add significant tension, but OTOH, it may, and a tiny bit of barrel at the base of the barrel may have to be removed. Or the barrel replaced.
Looks like it'll be on your buck, anyway, so I'd send it to Colt, but I'd first want to chat
mano a mano with them about it. They might just replace the barrel. If they shrug and say they'd just tighten it up, though I'd want a second opinion from another Colt expert. I'd recommend an email to
Grant Cunningham. He's waaaay backed up on his own work load, but he'd likely be able to tell you whether it's a more detailed fix than a simple tightening. I'd be curious what he thinks about the dowel trick, too.