A drive system for powering LED triads includes a controller for supplying power to one or more LED triad modules with integral encoding of the desired hue and intensity information. The LED triad modules each include an LED triad and decoding circuitry for activating the individual LED elements of the triad according to the encoded hue and intensity information. In the illustrated configuration, the controller supplies power to the LED triad modules over a pair of conductors, and the supplied power is modulated using a four-phase encoding sequence that is decoded by the decoding circuitry of each LED triad module so that each LED triad module produces light of the desired hue and intensity.