Easy enough if you know how to make use of the customizations and preset editing options that come with lens flare tools like Optical Flares and use multiple effects.
That may not even be a canned lens flare. That could be a couple of small, colored solids -- duplicated -- with horizontal blur & one or more blend modes used... then parented to the text. Just animate the opacity & you're set.
is a golden opportunity to learn all about blending modes and how to simulate light in 32 bit mode in your comps. It's a useful technique to get a hang of by simply layering shapes (in this case bluish) with different amounts of blur over each other to simulate lighting effects like flairs, glows or even something as simple as light from a candle causing a glow on someones hand. These are basic AE compositing skills you should learn and practice. A comp would look like this:
Just a bunch of copies of some basic shapes (make all the layers 3D) with different blur settings and slightly different shapes. Build a flair, pre-compose to simplify moving the flairs around, collapse transformations and animate the camera. The secret is in the blend mode.