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> > I have a simple BI-COLOR LED from radioshack (#276-207)

If you go to Radioshack's site (www.radioshack.com) and
search for 276207 you'll find the LED's page. It doesn't
actually show that LED, but the "Schematic" link takes
you to a page which has a very scruffy gif on it. As far as I can
make out, this is the wiring of the LED. It's a common anode
type which, as David says, you wire the middle pin (2) to
5V and then 1 and 3 go to a PIC pin each through a resistor
each. I've just wired up some common cathode bi-colours
and found that the red needed 680 ohms in series to match
brightness with the green, which has 390 ohms in series. As
yours is a common anode type, the PIC pins need to sink
the current (ie you send the pin low to complete the circuit)
whereas my common cathode types need the middle pin
at 0V and the PIC pins go high to source the LED current.

PICs (and many digital ICs) can sink more current than they
can source, and a load such as LEDs works better on the
"high" side of the PIC, that is, between the PIC pin and 5V

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