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The bar is counting down time to wear out the receptors in your eye (you need to be staring at the center the whole time). THEN the illusion begins.

After the black bar disappears, the circle start shrinking and on the boundary you can indeed an intense azure/green colour.for me quickly flickering the eyes left and right did temporarily increase the patches of intense colour.

It's not the animation itself that does anything magical, but the afterimage (I think that's what you would call it?) your eye produces after you stare at the dot for long enough. The black bar is just a countdown timer for the impatient.

But try to maintain laser focus on the central dot, not letting your eyes move or blink if you can help it. Once the black bar depletes, the circle should start shrinking, and around its periphery (like an eclipse) should be some incredibly vivid, super saturated colors.

After the black bar finish narrowing the red circle gets smaller slowly