CMOS devices, especially the old 4000 series, have relatively high output resistances (around 300 ohms, I think - somewhat dependent on the supply voltage). So there is normally no need for current limiting resistors. So the original design is acceptable.
There is a problem using a resistor from the common rail of the LEDs to ground to reduce the LED current. The higher this resistor, the more reverse voltage the OFF LEDs will see. Reverse voltage above around 5V will damage a standard LED. This is another reason why no resistors were used in the original diagram.
If you want to reduce the LED currents (which is a good idea, especially if you use high-efficiency LEDs), you should use a resistor in series with EACH LED.
You could also save power by using a lower supply voltage - say 4.5V from three AA or AAA cells. If your supply voltage is comfortably less than 5V, you can go back to using a single current limiting resistor without damaging the LEDs.
You can replace the 555 with a CD40106 (either a whole IC or a single-gate device) to operate as the oscillator; this saves components, space, and supply current.