I saw those at a Wal-Mart I visited early December 26. I left them there, since I wasn't that interested in the two color units.
The effect can be done by simply connecting the LEDs in reverse polarity to each other, so that they only light when current flows through in the forward direction; the current is blocked for the other LED. Change the polarity of the current applied, and the first LED blocks while the second, in reverse polarity to the first, now lights with current flowing through it.
A bit more complex string available from the same vendor is being discussed here. The final resolution may be applicable to what you're doing.
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