That's about right. If I did my numbers right (60 seconds * 24fps = 1440rpm) this could be useful. Question is, how well they would hold up to long term use at ~1500rpm. The other question is how many blinks I can get per single rotation. At a 720p resolution (1280 * 720 * 2 = 1,843,200 pixels) and say I can make 360 pixels worth per rotation (360 degrees, 1 blink per degree) that's using 5,120 leds... which would make this expensive as all get out...
The plus is, it'd be 3d with only polarized glasses (glasses are cheap.) and the color doesn't decay like OLED does being that it's standard led. Problem is cost and size. Even with surface mounts, 5k leds is a lot. And the cheapest I've found RGB leds is roughly $0.41usd when bought in this kind of bulk. For all the basic parts just for testing (not counting the Fiber optics I would need) this little project would cost over $3k for a 720p screen.
... Ah the joy of having an idea.