Hi George,
Generally the only limits are based on the available server resources vs the aggregate traffic of all the sites and the load produced by the traffic.
The only limit you may bump up against in terms of mojoPortal configuration is based on the mojoSiteMap.config file located in the root of the web, it must have an entry for each site id, as of the current version (2.3.0.1) I have it configured for up to 500 sites which is probably more than most people will ever need (and certainly far more than could be hosted from a shared hosting account) but it can be configured for more by adding more more entries. So if you need 501 sites you just copy this:
<add name="mojosite500" type="mojoPortal.Web.mojoSiteMapProvider" securityTrimmingEnabled="false" />
and add another one below it as 501 like this:
<add name="mojosite501" type="mojoPortal.Web.mojoSiteMapProvider" securityTrimmingEnabled="false" />
and so on for as many sites as you care to try and host from a single installation.
In older versions it was only configured for 100 or 200, I forget which, but the newest version is configured for up to 500.
Hope it helps
Joe