you are right, I started out with piping it into less, to see if you are right and damn it if you are not right. I thought he did something with delays in the output. How and why does this work?
It's not bash. You can remove the shebang line and cat the file, and it still works. It's simply your terminal interpreting the ANSI codes and displaying the contents of the file.
well a shell command if you can excuse my nitpicking. Had it been a bash script he wouldn't only have made a really nice easter egg but also found a security hole in curl.