When I have worked on projects in the past I am used to working with LED's with 2.1V forward voltage while drawing 20mA current. There are LED's that allow for 3.3V forward voltage, drawing 20mA current. If you use the former with the teensy then you need a resistor to dissipate the excess voltage supplied by the teensy, but is there any reason (aside from price) not to use the latter without any resistor? It generally doesn't matter much, but I am working on a project where i would like to get three 0805 SMD LED's into a tight space on a PCB and could easily do it if I don't have to attach resistors to them.