In case anyone needs help visualizing this, I think this image captures what you were describing. In this arrangement, since the SPDT switch guarantees that only one LED is ever active at a time, they can definitely share just one resistor (and of course it could be in the negative side or between the two switches - it doesn't have to be where it's shown in the image below.)Power SW NO, control SW SPDT, common to power SW out.
by Jake Hertz
by Duane Benson
by Jake Hertz
by Jake Hertz