TCP and most everyone else were not amused. It was fantastically awkward. If you don't want to catch a rerun on C-SPAN, you can download the video here:
The final skit with Colbert being the White House Press Secretary starts excellent, but runs a little long at the end. Some of his other jokes were a little weak. However, considering how scathing much of the material was and whom he was performing in front of, it was a praiseworthy performance.
Alternatively, you can just read this article on Colbert's appearance:
FYI, Colbert is being profiled on tonight's 60 Minutes on CBS for those interested.