Oh i missed the attachment, the resistor there is the one that the LED is using, which is 200ohms for this LED, the Voltage, when enabled, is reading: 4.87V leading up to it, and 2.73V after it.
The 5v line I have it connected to on the arduino, is the 5V always on line. Shouldn't that be ok? I don't have a power supply hooked up to this at all, it's running from the USB power of my laptop at the moment.