Beginner question: building a parts "library"

You have to think about maximum current consumption of the component or circuit. If you've got 20mA per LED, and there are 100 LEDs in your circuit, that 2000mA (2A) max current draw is way over the 500mA max that USB can provide, for instance. Your driver IC will likely have a maximum output (for the whole device, in addition to the per pin limit) as well.

-j