This from NFL. Com's Adam Schefter:

Now that former Patriots linebacker Rosevelt Colvin has passed his physicals and demonstrated he could play in a game tomorrow, Indianapolis and Houston each are pushing to sign him. And each has a selling point. Colvin played high school football in Indianapolis, and it would be nice to return. But the Texans have their general manager Rick Smith, who once successfully recruited Colvin to Purdue. Now Smith is trying to successfully recruit Colvin again.

I don't know why Colvin would want to sign with a cellar dweller like the Texans over a perennial contender like the Colts. The Texans are most likely offering Colving more playing time, and perhaps a starting role as a linebacker on the team. The Colts probably aren't offering much more than a situational pass rusher job. 

There's no way the Colts are going to offer more money than the Texans, either. And with comments like this from Bill Polian,

Polian also said while the team hadn’t ruled out acquiring free-agent linebacker Rosevelt Colvin, he said, “There’s nothing imminent there."

, it looks the Colts are playing the "I'm going to really act like I don't want you so that you'll want me more" card. It totally works on chicks, but we'll see if it works on Rosey Colvin.