Hanging Spear Falls Loop Hike

Looking for some assistance/recommendation on a hike I read about a few years back.

Start out at Upper Works, take the Opalescent Trail to Lake Colden. Then circle back to Upper Works parking lot via Calamity Brook Trail.

Was wondering if this can be done as a day hike as well as if this is the best route for making a round trip to Colden. Any other things that might help in
planning my trip would be greatly appreciated.