Those are collagen fibers. Not tissue, not even cells. The color was added by the guys who made the video, apparently to make it look more like tissue. The picture is an electron micrograph, and it would have no color. It's been known for a long time that some organic molecules can last for many millions of years in some circumstances. Far as I know, it's the first time someone found it in vertebrates, though.
Doesn't really mean anything about time or evolution.
This doesn't seem to be dishonesty on the part of Armitage; his article in the Creation Research Quarterly journal makes no claims of tissue:
Scanning Electron Microscope Study of Mummified Collagen Fibers in Fossil Tyrannosaurus rex Bone
Mark Armitage
CRSQ Vol 38 No 2 pp 61-66 September 2001
Abstract
A specimen of hip bone from a Tyrannosaurus rex, excavated from a ranch in Wyoming over 100 years ago, and thought to be 65 million years old is shown, by scanning electron microscopy, to have intact, mummified microscopic collagen fibers and other ultrastructural features within compact bone. Bone Haversian canals as well as lacunae and canaliculi are well preserved.