Can someone show me a brief "video" tutorial on how to create this?

I am not going to do your homework for you but I'll give you the steps and I'll strongly suggest you spend some time with the User Guide so you understand the basics.

• Create your text layer. 
• Go to the Effects and Presets panel and type in 'decode'
• Decoder Fade in should show up in the list
• Add this to your text layer by double-clicking and the text will now animate through random letters and resolve to the original text
• Press the "u" key twice to reveal all of the modified properties of your text layer and you will see two keyframes that you can move around to adjust the timing and a bunch of other items that have been added
• Study what you see and figure out what all the controls do
• You will see an Opacity animator that you can delete if you do not want the letters to fade in
• Click on the Animate option at the top and select Color/RGB to add a color animator
• Spin down Animator 2 and look at the options you are given
• Drag some of the values around and set a couple of keyframes until you get what you want
• Add additional animators to complete your animation
  

   

Take a look at this screenshot. A project like this can be done on one layer. The sample you posted looks like a terrible workflow. Spend some time with the User Guide. There are tutorials on using text animators.