probably nobody knows if he's on a hot seat or not ...
If I was his boss, I would definitely not considering firing him. My opinion of Colangelo is that he's a very qualified general manager. As long as I believe that, whether he did a good or not so good job is less relevant, since it would be very stupid to fire somebody just because they had a bad year. It's like having a sales guy who for the past 10 years did a great job, but now that he has a bad year you fire him ... not a smart decision.