The LED Painter is a 16 channel RGB LED controller (or 48 independent LEDs) using the Texas Instrument TLC5940. This PCB is improved with a better layout that allows easy connection of independent LEDs (not just RGB), as well as the ability to daisy chain multiple boards together. Each TLC5940 has 16 channels with 12 bit grayscale PWM control on each channel. Your microcontroller will connect to the TLC5940 using only a couple of pins and a serial like interface for controlling the intensity of each channel.
LED Painter – [Link]