A system and method for the automatic color/brightness adjustment of a video display screen, panel, module or other display component comprising light emitting diodes (“LEDs”). The system and method incorporate a reference LED and a light sensor on each module and use decay information sensed from each reference LED to determine the amount of decay experienced by the display LEDs in the modules. Each module will be adjusted to have one uniform color/brightness level based on the decay information sensed from each reference LED.