While it sounds clear than you can keep the average current constant and making shorter pulses (lower duty cycle) would allow you to increase the LED current, please be careful. There are many LED designs; some are made to survive such high current under short pulse duration, others would die soon.
The advice is: if possible, find a LED as close similar to those in your illuminator matrix, and kill it by increasing the DC current while monitoring it by an ammeter. Then use half of such current in pulse regime.
Notice than "common" LEDs are inside contacted with a quite thin gold wire or whisker- this is the fuse that would melt or burn by overcurrent. As this wire is molded in plastic, it cannot cool by convection . Other LED designs use a ribbon instead of a wire; such ribbon might survive more current.