The words “DREAM” and “center” are both in a union area. Dream is in 4 colours, Cyan, Red, Blue and black to represent the 4 letters and to propose a creative side of the administrative center. It’s for the same reason that a part of each letter is cut : the word is always readable even if the R, the E and the A are not entire.
Also, the fact that it’s only the words which make the logo, give a clear and light visual aspect.
In black and white, the colours are not translated as greys, the black is enough.
Light on screen, coloured for print and easy for round sticker (for example).