Lifting up one of the external sensor arrays, we find beneath: the optical system for injecting images into the waveguides.

These bright colors come from ambient light reflecting off the diffraction gratings, and don't represent specific color channels.

Each spot lives at a different depth—corresponding to a single layer of the waveguide.

At the back, we find the actual display device: an OmniVision OP02222 field-sequential color (FSC) LCOS device. It is likely a customized variation of the OmniVision OP02220.

The KGOnTech blog correctly guessed this was exactly what Magic Leap was doing, based on patent filings back in 2016.