They are indeed. There's the ballycollin road just off the colin glen/mullaghglass road even today. Stoneyford is also in the area. My ancestors were from there too. Other names associated with the area are Tullyrusk, glenavy, 'the rock', Hannahstown, wybridge. Keep a look out for these while searching for your ancestors whereabouts perhaps.
You mentioned derriaghy, it is pretty near here indeed although the places listed above are much more local.
It was very much a rural area and still is (although it does so a lot of traffic as it's part of the route to the belfast international airport.
My ancestors were buried in the ancient graveyard, tullyrusk. It's still there today but it very much overgrown and is located in the middle of an overwhelmingly overgrown field (haha, leaving me waist-high in grass when I visited!)
Many people from this area seem to have moved to Belfast for work eventually as it's not far away. If your ancestors were catholic, take a look at the falls road, glen road (and general west belfast area) as this is directly down the road from colin glen.
As akanex2 says, the Marquis of Hereford was indeed associated with this area.