you obviously know a lot more than i do, so maybe i'm missing something, but in either case i wouldn't expect noise or reflections, the signal levels and timing get restored at every shift stage, even low voltage cmos usually has more than a volt of noise margin, the traces are pretty short, and we're talking about longwave to shortwave frequencies, not microwave frequencies
True, but those tend to flicker because of that, they are not on steadily and that robs you of a lot of potential to create shades (and you'd need RGB individually, these WS2812B's are 3 LEDs in a single package).
Each LED decodes, stores and regenerates the signal to preserve integrity, that's why it work, there is about 200 ns lag for every LED that you add to a string.
one quibble. if two 32-pixel-wide panels are daisy-chained, doesn't that mean it's sending one 64-pixel-wide row one pixel at a time, which gets shifted through the first panel into the second one?