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.
The color blue is the color of trust and responsibility. This color is one of trust, honesty and loyalty. It is sincere, reserved and quiet, and doesn't like to make a fuss or draw attention.