Jeff's Note about centerline tracing: This macro uses Corel's centerline trace function (behind the scenes)
That means at one point, the art is converted to a bitmap, and is affected by Corel's internal limitations of bitmap size for entry into powertrace. For LED 4 Consider processing one letter at a time if your art is large.
Expecting centerline tracing to be perfect isn't realistic. I've not seen anything - at any price - that is.
Personally, I'd draw in centerlines manually for better control of nodes and curves, then use this macro to "space" LED modules along those single and separate curves.