Well, just for the LEDs, you've got an occasional 680mA x 4V drop across the 7805, so about 2.5W of heat to disperse - but presumably that is a momentary load... Add up the load of everything on the 5V rail, and figure out how much extra power you need to get rid of.
What I'm saying is, put a heat sink on your 7805, or leave a big chunk of copper under your 7805 and lay it down. But yes, you are probably fine. You shouldn't need a massive heat sink, but it would be good to give the 7805 a way to dissipate the excess energy. If you can get a double sided board made, you can lay down the 7805 and via stitch the top plane/heat sink to another on the bottom, but you probably don't need to go to that much trouble.
Gabriel