Was the chip hot?
I'm quite sure it wasn't, when I took it out several minutes after it stopped working it certainly didn't feel hot.
Do you have a real schematic, those Fritzing things are rubbish.
You're right, I don't use Fritzing anymore either, I just figured a breadboard view would be easier. I've attached an Eagle schematic and did my best to lay out the ARC EYE. It looks like the values for green and blue are 91Ω, I'll try to get my hands on a magnifying glass to check the red value.
Thanks for the decoupling tutorial.
Minor point. Not all LEDs are designed to run at or are run at 20mA. While a common number, it isn't always the case.
True, however the page I linked to describes them as 20mA per LED per color:
The board is designed to consume up to 20ma per LEDs per color, with two LEDs on each circuit board. So each button typically consumes 40ma if only one primary color is used.