How does AS1130 132-channel LED driver work?
It works by what they wrongly call "Cross plexing", see Figure 24 in the datasheet.  An excerpt of this figure is shown here, which demonstrates 3 pins driving 6 LEDs.



What it should really be called is "Charlieplexing".

With Charlieplexing \$n\$ pins can drive \$n^2-n\$ LEDs.

So 12 pins can drive \$(12*12)-12 = 132\$ LEDs.

Wikipedia has a page all about it:


  http://en.wikipedia.org/wiki/Charlieplexing