Would this be workable for 3.3v.
Assuming the forward voltage of both LED's together with resistors is greater than 3.3v, the LEDs will not turn on on their own. The microcontroller pin can be configured to either sink or source current, allowing one or the other to be turned on.
I know this works, I'm just wondering wether their will be current leakage through the LEDs.
Hmm.. I think the easiest way to answer this is to setup a test of the circuit myself, it's easy enough. Just thought I would throw it out there.