NFET with parallel power supply

1) No.

2) Yes, there's no current limiting for the LEDs so they will blow up.
 
The circuit I have is much more complex and has limits to prevent the leds from blowing up. My question is directly related to the NFET. Can I connect two different power supplies to it or is it a one-to-one relationship?
 
Yes, it will work, as long as there is something to limit the current.

If you don't want to draw the load, it's standard practise to replace it with a resistor labled RL or load.
 
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