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@Gordon I will most likely go the max7219 route. Just out of curiousity, how hard(code wise) would it be to implement:http://www.maximintegrated.com/en/products/power/display-power-control/MAX6955.html ?
Do you have to use I2C? You can use this chip:
http://www.espruino.com/MAX7219
On that page some modules are shown that include it already, but you can always wire up your own. It'll do brightness too.
It uses 2 wire clock+data, so still 2 wires, but no pullups. You can then chain the modules end to end in order to have any number of LEDs.
Also, because it's using SPI you can use 'soft SPI' which means you can use any two pins on Espruino for it.