The vertical part of the trackball is 19mm tall so is exactly flush with a 3/4 in panel.
The LED board has three pairs of red, green and blue LEDs. There is a common 5 volt wire and a ground for each color. So you can connect 5 volts to any or all of the 3 colors to make various color combinations. The LEDs are high-brightness 2000 MCD each so pretty bright.
You could get the 5 volts from a PC disk power connector, the header on the I-PAC, or any other source. Or you can of course use the Pac-Drive board and use 3 outputs from that, one for each color, and use the various software and plugins available to control the LEDs that way.
Andy