I trust Colin's explanation of the source. It would be awful to have fed a mistake, but wonderful if the news turned out not to be true. People are posting such good comments about Conway that I wouldn't want to bury the thread.
Best case scenario, we change the title to "John Conway has not died" and continue to celebrate him.
I've now had it confirmed in personal correspondence, but before it can be announced officially it needs to go through the Dean's Office, and it's a Holiday Weekend, so that won't be quick.
It's reasonable for people to be sceptical, I don't have a problem with that.
The Princeton Department of Mathematics page doesn't seem to have anything about his passing.
Edit: Of course it's the weekend; I should have realized that there will probably not be anything on that page before Monday.
It's Easter weekend, there probably wouldn't be anything before Tuesday.
I've commented elsewhere[0] on the connectedness and reliability of Colm, but people can always wait for confirmation via other sources before they choose to believe it.
Yes, I wouldn't necessarily expect the web site to be updated immediately, but I would think there would be a tweet from https://twitter.com/princeton sometime today at least.
Mulcahy is a pretty reliable source, and that's definitely his twitter. In lieu of official confirmation, for the time being it seems like this is about as reliable as anybody could hope for.