LED are somewhat temperature sensitive devices, and getting repeatable high-granularity bit-depth may prove a difficult problem in itself.

There are ways to compensate for perceptual drift like modern LCD drivers, but unless the technology addresses the same burn-in issues with OLED it won't matter how great it looks.

You may want to look at how DMD drivers handled the color-wheel shutter timing to increase perceptual color quality. There are always a few tricks people can try to improve the look at the cost of lower frame rates. =)