1) if your thinking TRI LEd's, that probably won't happen as doing a dot matrix LED array with a lens to enlarge the output of the dot would not be coherent at all.
2) Sure why not.
Reason for the size of the Messenger is probably due to the fact that the lens had to be a certain distance away from the LED board in order to achieve legible text.
but nice idea. The closest thing i can see to this is the Flash panels and the Madrix NEO. but that can be expensive as you most likely need about 8 or 9 to get a good size of text readable. You saw my flash panel videos yes?
Sincerely,