What do you mean with a long delay ? Can you give me more info about the setup ?
I dont know much about the Teensy, but for driving 88x32 pixel, you will need about 2 mbit/s transfer rate. Dont know if the teensy is able to deliver that via usb. For such a high transfer rate, I would prefer a networkbased protocol. If the device is not able to process 25fps, Jinx! will start to skip frames.