I understand that counterparty has added support for multisig on the testnet but it will only include up to three signatures.
If I sent some assets or xcp to a 5 of 7 multisig lockbox address on armory would there be any way to retrieve them, assuming I had all the keys?
The devs have mentioned that currently it is a limitation of the Bitcoin protocol itself, which prevents Counterparty from using multisig with an n > 3. It's not impossible in the future, but currently that will have to do. 8)
I wonder how far fetched a 5 of 7 address would be. Even if OP_RETURN allowed 80 bytes (it only allows 40), you'd need more than one allowed in a transaction (only one is allowed now), and finally a high majority of miners would have to implement those changes.