Absolutely. Glad I could help.
A sub-vi can be its own stand-alone program, or just a bit of code put together to clean up your block diagram. In your case, you probably just want to clean up the code some.
Usually when I do this I have one main VI where all of the user interface controls and indicators are together in the same vi, and then break down some of the block diagram functions into separate sub-vi's, which you place inside the main vi. In your case, none of the code is doing anything terribly complicated, so you could probably put parts of either program into a sub-vi. You could put all those comparisons into a sub-vi, and that would reduce the code a little bit. But you'd have a vi with one input and 7 outputs, and I don't know if the timing values or number of LED's would ever change.
Let me see if I can throw something together quickly that would give you the general idea of how that would work.