It's not like the 0.1uF will act faster or anything.
I've seen posts here that talk about the low component count of the MAX7219 only needing 2 capacitors, and I've always used it with a 0.1uF cap across the power supply, so I wondered why they said it needs 2. I finally looked at the schematic that keeps getting linked and it has a 10uF and 0.1uF cap in parallel across the power supply.What is the purpose of doing it that way? I understand that the 0.1uF is intended to smooth short, sharp voltage spikes and using a 10uF is intended to smooth out ripples over the longer term, but won't the 10uF also deal with the spikes if used alone? It's not like the 0.1uF will act faster or anything. Thanks.
In theory any cap bypass cap has less and less capacitance reactance (AC resistance) to ground (which is good , acts like a high pass filter to ground) as the frequency of the noise or spike increases.