It might well be worth the $20 for that template by the time you've figured it out.
"Pixelated text" is what you'd probably call it.
You could start with trying Mosaic (Effect > Stylize > Mosaic) with the Horizontal Blocks and Vertical Blocks set to 190 or so. But maybe add 4-Color Gradient (Effect > Generate > 4-Color Gradient) first to set your colors and then Posterize (Effect > Stylize > Posterize) at 35 or so to reduce them. Duplicate that Comp and apply Grid (Effect > Stylise Grid) in the Duplicate Comp (Size from Width & Height Sliders, Width 12 and Height 12, Border 1, Opacity 30). After that, nest the Comp and duplicate Comp into a 3rd Comp, setting the original as the Track matte for the duplicate (this is one way of cropping the Grid effect to just the type).
Although, that's going to be a distant second to what this template does.

-Warren