Here's the version I came up with, hopefully it will help someone out, though it seems to flicker at low light levels, anyone have an idea why?

int datapin = 9; // DI
int latchpin = 10; // LI
int enablepin = 11; // EI
int clockpin = 12; // CI
#define chainlength 5

int SB_CommandMode[chainlength];
int SB_BlueCommand[chainlength];
int SB_RedCommand[chainlength];
int SB_GreenCommand[chainlength];

void setup() {
pinMode(datapin, OUTPUT);
pinMode(latchpin, OUTPUT);
pinMode(enablepin, OUTPUT);
pinMode(clockpin, OUTPUT);

digitalWrite(latchpin, LOW);
digitalWrite(enablepin, LOW);
/*
SetSB(1,127,127,127,B01);
SetSB(2,127,127,127,B01);
SetSB(3,127,127,127,B01);
SetSB(4,127,127,127,B01);
SetSB(5,127,127,127,B01);
SB_Refresh();
*/

}

void SB_Refresh() {
for(int led=0;led 24);
shiftOut(datapin, clockpin, MSBFIRST, SB_CommandPacket >> 16);
shiftOut(datapin, clockpin, MSBFIRST, SB_CommandPacket >> 8);
shiftOut(datapin, clockpin, MSBFIRST, SB_CommandPacket);

}
delayMicroseconds(1); // adjustment may be necessary depending on chain length
digitalWrite(latchpin,HIGH); // latch data into registers
delayMicroseconds(1); // adjustment may be necessary depending on chain length
digitalWrite(latchpin,LOW);

}

void SetSB(int led, int red, int green, int blue, int mode){
led=led-1;
SB_CommandMode[led]=mode;
SB_BlueCommand[led]=blue;
SB_RedCommand[led]=red;
SB_GreenCommand[led]=green;
}

void loop() {
int i=0;
for(i=0;i<=1023;i=i+2){
SetSB(1,i,0,0,B00);
SetSB(2,0,i,0,B00);
SetSB(3,0,0,i,B00);
SetSB(4,0,i,0,B00);
SetSB(5,i,0,0,B00);
SB_Refresh();
}

for(i=1023;i>=0;i=i-2){
SetSB(1,i,0,0,B00);
SetSB(2,0,i,0,B00);
SetSB(3,0,0,i,B00);
SetSB(4,0,i,0,B00);
SetSB(5,i,0,0,B00);
SB_Refresh();
}
}