According to datasheet dots on TIL305 are arranged on 0.05"(1.27mm) grid. With that information I can now measure the size of a single dot. On the picture below each increment of scale represents 0.1 mm. It means that single dot is 0.4x04mm. I thought incorrectly that they were 0.6x0.6 (drawing from datasheet is more symbolic than actual representation of the part).
For my version of TIL305 I will use 0201 leds(0.65x0.35mm) rotated by 45° on 1.27mm grid.
Display showed on pictures below has marking "KOREA 8418".
While researching TIL305 I discovered TIL302. It shares same package as TIL305 but is configured as seven segment, unlike TIL305 which is 5x7 matrix. I had to get one so here are some pictures: