What If

I think you would quickly go insane and then become Lord English.

I would think a screen that small would be fascinating to observe the tech behind, and also worry what effect rapidly flashing lights right in front of your eyes would have on your vision.

I don't know what you're referencing (probably Homestuck?).

But just having LED contact lenses that change their image when you blink could be cooler than cool.

Yeah, it's a Homestuck thing. The Big Bad is a giant green man in suspenders who has a huge strobing overcoat, a golden pool cue peg leg, and rapidly changing billiard balls for eyes in his skull head.

He looks like this.