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I set up the panel using a smartmatrix shield V4 and Teensy 3.6, just using the demo code, and the board has no activity.

Board is powered directly from my variable-voltage power unit. I noticed the teensy computer seems to be getting power FROM the board, which should not be possible. Additionally, I get .15+ amps of current draw on the board with nothing attached -- seems like something is bad, but I didn't see any noticeable damage to the SM components.

I confirmed that the teensy works with my (slightly smaller) adafruit 64x64 smartmatrix panel. <-- images were too large for the board size limit.
Sorry to hear you're having trouble.

The Adafruit panel is a 1/32 scanning panel and ours is a 1/16 scanning panel. Did you modify your code to adjust for that?