I would like to hook up my Arduino to an 8x8 array of 8x8 Dot Matrix Bi-colour modules. Hence making a total of 64 Dot Matrix modules with 8192 LED's in total.

I want to use 74HC595's to drive them and will obviously need 3 per module making a total of 192 Shift Registers in total.

Question is - Has anyone done this before and if so will it work? A lot of data will need to be shifted out for each screen refresh. Will this amount overdo it?