If I understand what you're suggesting correctly?, that's completely untrue - UNLESS the PNP supply rail is only the same as the micro (5V). With the 12V shown the PNP will never be able to turn OFF at all - as the micro pin will never rise above it's Vdd voltage. Even the few pins that might be open-collector don't usually allow the pin to rise above Vdd either. The majority of micros have protection diodes on the pins, which link to Vdd and Vss, preventing your idea.
The suggestion in post #2 is the standard way of doing it, and turns the LED's ON when the input goes high (which is the sensible way to do it) - however, a series resistor for the LED's is essential, and could be added in the PNP emitter, to give a crude 'constant current' type effect.