Here are a few thoughts, as I've studied this issue for many years. In fact I have a presentation I give on this subject as part of the ACM distinguished lecturer program and the IEEE Computer Society's distinguished visitor program. 1) There actually have been academic programs called computer science engineering, but the name never caught on.
The color black represents strength, seriousness, power, and authority. Black is a formal, elegant, and prestigious color. Authoritative and powerful, the color black can evoke strong emotions and too much black can be overwhelming. In heraldry, black is the symbol of grief.
Red gives the impression of seriousness and dignity, represents heat, fire and rage, it is known to escalate the body's metabolism. Red can also signify passion and love. Red promotes excitement and action. It is a bold color that signifies danger, which is why it's used on stop signs.