This was a prototype to see how feasible it is to use 595's to run an array of RGBs. While it was functional, I wouldn't wish the development / build process on anyone. I am also a newbie, so me building a design for others to follow would most likely steer someone in a bad direction.
I tried the TLC5940 chips but am having color balance issues, which is really rough .. cause the chip seems great and works great for the most part.
Next I ordered some of the daisy-chain capable LEDs from Bliptronics .. from this post:
http://www.arduino.cc/cgi-bin/yabb2/YaBB.pl?num=1275457576
If you are really interested in learning about doing this with 595 and/or TLCs .. there are some good posts and I can help if you like. I'd love to figure out dot correction, etc.
However, if your desire is to see colors moving on command .. you may want to take the easy route and test out a sample of the LEDs from that post. I did and have to say I am very pleased.
Let me know if you want specifics about the above setup or the mentioned chips or leds.
Shift register selection:
I have 595, TLC5940 chips working. 595's can push common cathodes just fine. Have not tried common anode with 595s.
Got the TLC working with common anode (no multiplexing) and with common cathods (required multiplexing 3x) (see 112 rgb table).
Daisy chain "out of box" leds:
have the 8mm, 20mm and 50mm versions from blip all working (all daisy chained together .. not sure if that is a suggested use however).
Of the three I like the blip LEDs the best and the 595's second only due to my own issues with the TLC. I prefer the TLC over the 595s logically but prefer a soldered solution overall.
Best of luck with your project.