I did a project similar to what you are talking about. I used a 16x32 RGB LED matrix that has a hub75 interface (hub75 refers to the pinout and signals that drive the display). I did not use an Omega2, I used a Linkit Smart 7688 Duo. The Omega2 and the Linkit Smart 7688 Duo are both based on the MT7688. The Linkit Smart 7688 Duo also has an Arduino Leonardo on the same board. I used the Arduino Leonardo to drive the display and the MT7688 to handle the WiFi and to send messages to the display.

You will need 3.3V to 5V level shifters. The display is 5V and the Omega2 is 3.3V. The display requires 12 GPIO for 16x32 and 13 GPIO for 32x64. Arduinos have enough RAM to handle a 16x32 display. For anything bigger you will need a controller with more RAM. The Omega2 does not have enough GPIO to drive the display directly.

Adafruit sells a hub75 interface board that uses a Teensy 3.1 or 3.2 to drive the display. You could use one of those with the Omega2 as the WiFi link ( an expensive way to go). I designed a hub75 interface board for the project that I did. It uses a Linkit Smart 7688 Duo and has level shifters on the board.

If you want more information, give me your email address and I can send you an eagle package to make your own boards, the Python code and Arduino Leonardo code that I wrote for my project and a pdf of the schematic.

An experienced developer could easily make a hub75 interface board with a socket for an Omega2, level shifters and on on-board Arduino to drive the display. The board would be a mashup of the board I did and the Omega2 Arduino expansion board.