Apricot yellow recalls that Vagharshapat was a royal town. Purple symbolizes the Catholicate. The emblem is bordered by a gray ring charged with yellow grapevines, substituted in the emblem's upper part by a castle with brown windows, protruding out of the ring. The inner ring is blue, inscribed on town with the town's name in Armenian capital letters, "ԷՋՄԻԱԾԻՆ", and three crosses. The central, apricot yellow, disc, outlined in orange, is charged with a purple quaterfoil bordered in blue and outlined in orange featuring four white archangels and, in the center, a blue disc bordered in apricot yellow and inscribed with the orange letter "E", "Է", for "Ejmjatsin" and "Essence".
I don't know how religious Armenian people are, but Ejmiatsin contains the headquarters of the Armenian Apostolic Church so the city might be proud of that fact.
I agree, I love the colors and the script as well! The seal is a bit messy and cluttered imo but otherwise it's a nice composition.