Are you the same person who wrote (grin)?
Anyway, a couple comments, if I may.
(1) You don't need to tie up a pin to "gate" the counter input. Gate the counter input by changing the pin from an input to an output. Actually, since you're using TMR1 instead of TMR0, you could probably just toggle the TMR1ON bit.
Code:
;
movlw TRISIO ; TRISIO register address |B0
movwf FSR ; setup indirect access |B0
;
; perform new 200-msec count
;
bsf INDF,GP1 ; T1CKI gate 'on' (input) |B0
DelayUS 200000 ; delay 200-msecs |B0
bcf INDF,GP1 ; T1CKI gate 'off' (output) |B0
(2) Use a 2-pin Red/Green LED to save another pin. Besides, how do you count Red, Green, and Yellow pulses all at the same time (grin).
Now you have 2 pins left over. What other functions can be added (grin)?