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I heard we do not get a pick for Ben Utecht. I am not sure about Jake Scott.
Two completely different things.
Compensatory picks are awarded when teams, who have tendered restricted free agents, decide not to match offers other teams give to those restricted free agents. You are then compensated (by the team that signed the player) based on the level of tender you had given that restricted free agent. In the case of Ben Utecht, the Colts chose the lowest level of tender - meaning they would only be compensated at the level where Utecht was drafted. Since he was undrafted, there is no subsequent pick. Jake Scott was an unrestricted free agent, so the Colts will receive no compensatory pick (though, as discussed below, it's possible they will receive a supplemental pick next year).
Now, in the case of supplemental picks as tdubb03 was discussing, teams are awarded extra draft picks (placed in from the ether at the end of a round) based on a convoluted formula adding up how many free agents of consequence they lost the previous year vs. how many free agents they signed the previous year. Since the Colts lost a number of mid-level free agents (Jason David, Dominic Rhodes, Cato June), it's likely the Colts will receive a couple extra fourth rounders and a fifth rounder.
It does not matter the Colts selected Jake Scott in the fifth round of the 2004 Draft?
Not in the slightest. Compensatory picks are only awarded when restricted free agents that have been tendered are signed by other teams. Unrestricted free agents are free to sign with whomever they want and their previous team can do nothing about it and receive no compensatory pick, assuming they have not been tagged with a franchise tag, etc. (and Scott was an untagged unrestricted free agent). The above sentence is still subject to rules regarding supplementary picks - but that is not an issue until the following year.