This could have some interesting implications for evolution too, as scientists are realising that the dinosaur may not have behaved as they originally believed. Originally thought to be nocturnal, having this colouring suggests that it wasn't. If we look at modern day birds, we only see this colouring on diurnal birds--those active during the day--such as crows and magpies.
Below is a reconstruction of fossil data to show how it looked:
One other interesting point is it's tail--the reconstruction suggests that it is very fine, as opposed to modern day birds' rudder-like tails. This may mean it was used for displays and courtship rather than function. However, given that it has 2 pairs of wings, rather than a single pair, it may not have needed a rudder tail, as the second pair of wings may have granted it the same level of mobility.
Here is the article I found the picture and information from if you'd like more of a read: http://www.sciencedaily.com/releases/2012/03/120308143209.htm