This following more colorful diagrams makes it easier to decode:
(Beginning with the 3 white rays, on the innermost circle, count ten rays, each ray
representing a zero or one. In the diagram below the pink rays are the same as white rays, namely zeroes; the last diagram uses yellow in place of the pink and is clearer.)
Start at the three white rays near 1:00 and go clockwise.
The last three rays (of the first 10) are orange,yellow,yellow (100 base two), or 4th letter, D
The last ray of the next 10 is orange (1 base two) or 1st letter, A
The next 10 rays end in orange,yellow,yellow,orange,yellow (10010 base two)18th letter, R
The next 10 rays yield orange, yellow, orange (101 base two) 5th letter, E That ends the inner ring and the first word.
For each subsequent ring you can start at the same 3 white rays and go around. I don’t know why the first letter isn’t the first letter in the word ‘Mighty’ but rather the ’T’.