This project is long overdue for an update. Since uploading the original photos I have made a few changes to the board. One of the much needed updates was a more efficient replacement for the LM7805 regulator. I now have a 12V-5V switching regulator:

The other change you can see in the photo above is the modified wiring. I now have two power rails running either side of the modules instead of the daisy chain layout I had before. This should limit the current running through the PCB traces (It probably wasn't an issue, but It's better to be cautious).

Finally I now have a painted wooden enclosure to hold the modules:

The time in the photo above was created by generating the frames on the PC, then sending those to the Arduino over USB.

The problem I am having now is finding a useful application for the display. If you have any suggestions then feel free to leave them in the comments.