I am hoping someone has a leaning toward microbiology with this question.
Can anyone describe the chemical/bacterial/fungal(?) processes which create
the beautiful patterns and colors found in the heartwood of Sweetgum?

After sawing many logs of varying sizes, I can tell you it is not just due to
the size/age of the tree. A very healthy 30" diameter log in central Georgia
(my location) can have little dark heart. On the other hand
a much smaller log may have more central "heart" and have streaks of the
coloration running down from damage to the bark when the tree was less
mature - for example, where a tree trimmer had taken a limb years earlier.
I have cut the logs from 32" to 14" in diameter and have thousands of board feet which have been air-drying for about a year. I cut the sap wood quarter-sawn to get the ripple satin effect and cut the heart wood however I can to get the most out of it.
Love it!

Phil Lavender