Thanks. i replaced 220 ohms with 1k for Green and blues and 1.2k Ohm for red. difference was acceptable, since this was easiest way for now. the above pic shows the leds with 1k resistors.
Now its like
1 Shift register 16 leds (2 leds per pin)
1 led is taking 1.95ma
so 16 takes 32ma , quite under 56ma rating of IC