You will use one 7448 as i did in the schematic and you will use the process i have described.
There is no need to use four 7448 since the outputs are not latched,
you were using four 4511 because each one could store a value and show it so no refreshing was needed until the value was changed,
this is not possible with four 7448, you would have to drive them constantly from 4x 4pins with the values for each led, there is no point in that.
It is better to use one 7448 and use constant refreshing of all digits, you will light them one after the other even if the value has not changed.
Alex
---------- Post added at 18:01 ---------- Previous post was at 17:57 ----------
No you can't use that schematic, because all the inputs are tied together and they will change together, these chip can't store the last data,
the output is a live translation of the input, the only way to use this schematic is if you separate the chip inputs and connect them to 16 separate pins.
use my schematic and connect all 8 leds in parallel and use 8 transistors to control the 8 displays (4 green, 4 red)
Alex
---------- Post added at 18:08 ---------- Previous post was at 18:01 ----------
Sorry, i thought you meant 7448...
Yes your schematic is correct for 4511.