The standard pronunciation is [hay-nus]. The pronunciation [hee-nus] is regarded as non-standard. A pronunciation that rhymes with genius is probably based on the mistaken idea that there is an i in the spelling of the second syllable. Spelling: note the ei.
The wingless dragon holds jewels in its claws to represent prosperity. Saffron yellow symbolizes the power of the monarchy. Orange-red stands for Buddhism. Effective date: c. 1971.