The flag of Shambhala uses five colours - white, yellow, orange, red, and blue. It is based upon the Buddhist Flag and was designed by Salting Mipham Rinpoche. The yellow disc represents the Eastern Sun and the inherent wisdom of all beings. The four stripes represent the positive essence of the tiger, lion, garuda and dragon. The colours also reflect joy, equanimity, and wisdom. Along the hoist is a blue stripe.
You have a typo: "Salting" should be "Sakyong" which is at Tibeten Buddhist honorific meaning "Earth Protector". However, the flag was actually designed by his father, Vidyadhara Chogyam Trungpa Rinpoche. "Vidyadhara" is also an honorific meaning "wisdom holder".
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