There's very little information available about LuxVue or its technology. And obviously we don't know anything about Apple's plans for this technology.
Back in January 2012, Sony unveiled a new technology called Crystal-LED which uses ultra-fine RGB LEDs to create a self-emitting display. Sony showed a prototype 55" Full-HD TV (six-million LEDs). Sony said that this technology enables displays that feature a better contrast, color gamut and response time compare dto LED-backlit LCDs. The technology was never commercialized though. It may be that LuxVue technology is similar but for microdisplays.