Daniel van de Laar
Forwarded this to one of my EE buddies and his response was:
"Should be fine, he can tweak the resistors to get the desired brightness."
Thanks friend. That was my main concern. I had considered a couple of variable resistors to dim/brighten it, but that might be overkill. I may also forgo the bicolor LEDs and just use mono-colored LEDS wired up the same way - gives me more freedom to tailor the brightness.
Probably going to order the parts from digikey in the next week.