NES Red/Multi-Color LED?

Hello all! I'm thinking about adding an over clock switch to my NES by following this tutorial: https://nobitleftbehind.wordpress.com/2014/07/28/how-to-overclock-the-nes/

An optional step is to change the LED so the LED switches color when it's in over clock mode. At the same time, I've seen NES LED mods that cycle through colors automatically, which look pretty cool imo. I was wondering if it's possible to have it so the LED stays red when it's in normal mode, and cycle through colors when it's being over clocked.

Thanks!

The LED in the front-loader is literally just:

+5V --- connector --- LED --- connector --- resistor -- driver

i.e. if you look inside the front loader, the signal on the big blue connector is low when the LED should be on, and the same voltage as the power supply when it should be off.

The self-cycling LEDs usually only have two pins, for power and ground: They usually don't have another input to signal "stop"; you may need to jam two LEDs in place to get your desired switching behavior.