The optical properties of $ZnS_ySe_{1-chi-y}:Te_{chi}(chi<0.08,y~0.11)$ alloys grown by molecular beam epitaxy (MBE) have been investigated by photoluminescence (PL) and PL-excitation (PLE) spectroscopy. Good optical properties and high crystal quality were established with lattice match condition to GaAs substrate. At room temperature, emission in the visible spectrum region from blue to green was obtained by varying the Te content of the ZnSSe:Te alloy. The efficient blue and green emission were assigned to $Te_1 and Te_n(ngeq2)$cluster bound excitons, respectively. Bright green (535 nm) and blue (462 nm) light emitting diodes (LEDs) have been developed using ZnSSe:Te system as an active layer. The turn-on voltage of 2.1 V in current-voltage characteristics is very small compared to that of commercial InGaN-based LEDs (>3.4 V), indicating the formation of a good ohmic contact due to the optimized p-ZnSe/p-ZnTe multi-quantum well (MQW) superlattice electrode layers.