The 16x32 display boards arrived yesterday from OSH Park. I spent some quality time at the bench this evening.
The LEDs all work, although they got mounted with the wrong polarity - I got the first one wrong, and was very consistent after that. It will take a few inverters to make this work with the original circuit idea, but that's easier than re-working the board :-)
The really scary thought is that I have 2 more PCBs like this one.