The PHY output spec is :
Voh = 3.3V-0.2V = 3.1V
(Ioh) = -12mA
LED Series resistor is 2.2k.
Hence, the LED current = 3.1V / 2.2k = 1.4mA.
And the LED block spec is
Max Vf of LED = 2.8V & Iled = 20mA.
But since the I(oh) = -12mA @ 3.1V.
But the max Vf of the LED is 2.8V. Since, 2.8V < 3.1V, there will be more current (higher than 12mA) from the PHY out pin which will reduce the voltage from 3.1V to 2.8V. Hence, the LED in the LED Block anode will glow with lesser brightness since the required ILED will not be exactly 20mA, but lesser than 20mA. Am I right?
Hence, I think the PHY output should be OK for the individual LED as well as the LED anode block, right?