I found some LED 5x7 matrix components at HSC and I've wired up two columns to track a 7-bit ripple counter. The two bright LEDs are tri-color LEDs (they have a red, green, and blue LED in one T-3/4 package). I've wired the low three bits of the ripple counter to drive each color component, so they show 8 different color combinations (well, 7 colors with "off" being the 8th).
(Click the image to view a smaller version.)