5 official rulings from Bandai, last ruled Mar 28, 2024. Straight answers to how this card actually resolves.

If I activate this card's <Main Timing> effect two or more times, can I give -6000 DP to different opponent's Digimon?
Yes. This <Main Timing> effect activates again for each color your Digimon have, and you get to choose the target for each activation.
Ruled Mar 28, 2024
If I activate this card's <Main Timing> effect two or more times, are they treated as activating at separate timings?
No, they're treated as activating at the same timing.
Ruled Mar 28, 2024
Does this card's <Main Timing> effect activate three times when I have 1 2-color Digimon?
Yes, that's correct.
Ruled Mar 28, 2024
If I have a red/blue Digimon and a red/black Digimon, do they count as 4 colors and make this card's <Main Timing> effect activate five times?
No, multiple instances of the same color count as 1 color. Therefore, for the situation stated in your question, red, blue, and black would count as 3 colors, so the effect would activate four times.
Ruled Mar 28, 2024
If I activate this card's <Main Timing> effect two or more times, can I activate the effect for different opponent's Digimon each time?
Yes, this effect activates multiple times, so you can choose different targets each time it activates.
Ruled Mar 28, 2024
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Questions and answers are Bandai's official rulings, collected and translated by the DigimonCardGame Wiki community and reused here under CC BY-SA. Card names and card text are © their respective publishers; Combalo is not affiliated with Bandai.