Not sure if anyone can help in this forum, but I need some advice on using LED's. Basically, I want to build a simple circuit with a RGB LED which at the push of one button, it can make the lights go from red to green to blue, and with the push of another button, make it go in reverse order. Is anyone familiar with this sort of thing? Thanks in advance.
Sounds like you want a basic timing circuit set up. I'm very rusty at this as I haven't done it for years, but if you have a look around google for some circuit schematics you'll find something relatively simple to construct. The only tricky part is assembling it, finding some veroboard to solder it together or buy a prototyping board for it, the latter is easier to assemble, but large, cumbersome and not especially cheap.
You could check out this page, there are a few items that resemble what you are describing somewhat: http://www.allelectronics.com/make-a-store/category/305/Kits/1.html