16 segment LED with 74LS154

You have 192 segments. If you use two of the 74ls154 decoders (one for digits, one for segments) you will only be able to light one segment at a time. That means each LED is lit only 0.52% of the time, max. You also have to do updates at 11,520 segments per second to get a 60 Hz update rate.

You would probably be better off using a 16-bit shift register for segments and the 74ls154 only for the digit drive. Then you can have each digit lit 1/12th of the time (8.3%) and only 720 digits per second to get 60 Hz refresh rate.