Jumper,
You can use "one LED" only like the one in the link below. This is pretty much two LEDs put together. It is a red-green 3mm LED.
http://futurlec.com/LED/LED3RG.shtml
However, the bad news is that Sayzer is right. You can't get three states "0,0", "0,1", and "1,0" with only one MCU pin.
Robert
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