In three state logic signals are high (5V) ,low (0V) and high impedance (z) .
high (5V)-red led.
Low (0V)-blue led.
High impedance (z)- both not glowing .In this state there is a current flow of 3.42mA through both leds which is the drawback of this circuit which makes it just an indicator .To overcome this I have made another circuit.
http://everycircuit.com/circuit/5786591509610496
