From what I can see, the issue occurs with the combination of the "VR Color Gradients" effect and the "Turbulent Displace" effect.
Due to a limitation with the "VR Color Graident" effect, it needs to come after the "Turbulent Displace" effect (e.g. the "Turbulent Displace" has to be applied first, regardless of effect layers):


My recommendation would be to move the "VR Color Graident" to be applied on the text sequence. You may have to make two separate text sequences if you want the color only applied to one.
If I haven't messed up the file-share settings, you should be able to download the modified project here:
https://adobe.box.com/v/turb-vr-color-grad
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