It is just in the experiments I have tried then the dimming of multiplexing gets too much at values over 4:1. Even at this value the LEDs are not nearly as bright.
PWM while multiplexing is perfectly possible as long as the multiplexing is synchronises to the PWM.
PWM while multiplexing is perfectly possible as long as the multiplexing is synchronises to the PWM.
If you are using the same current for each LED as you would if they were always on, that is absolutely true. However most LEDs can accept a much higher current at 1/8th duty cycle without burning out and can therefore be sufficiently bright. For example, The LEDs in my coat are rated at 30ma normally, and 80ma at 1/10th duty cycle. I'm currently pushing about 50ma at 1/8th duty and have had no issues. In fact, I have had to drop the max PWM level in my code in order to reduce brightness on some patterns.
That said, I do think that ischbe should be looking at the technical specifications for each component he intends to use. Instead of the uln2003, or FETs, you could easily use just the Shift Register and some sufficiently powerful NPN transistors. I used TIP120s, but that was mostly because I had them on hand and they can handle 5A.
