That is just so fun and amusing. I imagine that if the Colt SAA and the 1911 were not already state guns somewhere else they would have been very much in the running.
Interestingly, the Republic of Texas bought a great many guns from Colt. The blackpowder Paterson .36 preceded the Walker with the Texas Rangers. It would have served well as Texas's State Gun but if you had to vote for a gun named after a town in New Jersey or a Texas Ranger, well, that would not be a hard choice here!!!
Especially since it was Captain Samuel Walker who made the suggestions for improving the Paterson that Colt used to make the huge Walker Colt.
Very cool choice.