How about a mask ? it looks like a type of flare effect, maybe Optical Flares. you could just mask the part you want and use some feather and there you go.
I thought about mask as well, but I'm not really good at doing that type of stuff.
If I was asked to do that, I would use my 3D Software since that appears to have been done in a 3D Application (and they allow applying different "shaders" to different areas of the 3D Text), but sadly Adobe does not offer one
So using only Adobe stuffs, I'd make my text, duplicate the layer, and extrude one of the layers to 3D. Then I'd do the animation I wanted and add the shiny coloring effect.
Yes, that will color the entire thing, but that's what the duplicate is for. Color the duplicate flat, and parent it to the 3D Version. It should be the same size and cover things nicely. That should allow you to mimic the look of the 2 shading domains in the 3D Text you used as an example, and although I have not tested this, I assume parenting will work to keep it following the animation of the other (after converting it to a 3D Layer).
Using 3D Lights and a reflective surface on the 3D Extruded Text in After Effects you can create the glare and light flares seen in your video example.
Hope that helps!
There are lots of lighting effects going on here. Shadows, highlights, and the flair. Personally I would not use Ray-traced rendering in AE because it's so slow to work with and dependent on graphics cards that are no longer being supported by NVIDIA. The Ray-traced renderer is dead and will no longer be developed.
The rolling and moving logo with reflections and highlights can be fairly easily done in C4D lite which comes with AE and the composited flash flare can be faked easily with an animated shape layer blurred and added to the scene using the Add blend mode. It's pretty simple stuff id you brake it down. It might look something like this:
Adding an adjustment lay on top of everything with some additional glow and working the project in 32 bit will give you more options. The line around the white shape layer is visible because the layer is selected and included so you can see the animated path.