My inclination would have been to re-pop the CO's raise pre. It looks like he could be on a steal here, so make him pay to stay in, or run him off. You likely have him beat pre, but (K, J-off) is a hand that tends to make 2nd best hands post. I'd make it something like 70 to go. Let's see if they have enough to play.
The CO can still find a raise after the SB leads into two opponents, and one of them has raised pre. As played, I'm probably folding this flop. Doesn't look like TP2K will be good here very often. The CO is definitely repping an overpair here, and it looks like queens, as this board is two tone, connected, and draw heavy. If CO had queens, he'd especially want to make draws expensive to play, and hopefully get kings and aces out of there.
Since the turn brought in the flush draw, time to get out now. I'd need a good read, and would definitely need to know if the CO could multi-barrel bluff on a flop like that
"Haven't changed the way I posted hands so I'm not sure what's up with that..."
The forum uses UBB code, not HTML. Also, it looks like obsolete HTML, as the <font></font> tags aren't used anymore.