I'm having a similar issue with the 120 variation. I have an item for an angel ornament that has 9 colors, 2 styles (boy angel/girl angel), 2 head colors (ethnic/non-ethnic), and 4 hair colors and is available with or without personalization. I have these options to allow customers to select the main components of the angel. For example, if their angel is a gift, they may want it to have the same color of hair as the recipient. I set-up adding personalization as a modifier, since I charge a small fee for it, and will use it in other items. I set everything else as an option because I found through experimentation that I can only have one modifier in an item (tried setting an item up with two modifiers, but only one showed up in checkout screen, despite that both modifiers were checked in the item.). I'm still working on setting up and finding what works/doesn't work for me as I go along (which has been frustrating going through all the work and finding out it doesn't). I'm now thinking I may have to use notes for the hair color for this item if the buyer wants to request a particular color, which will also leave room for adding other colors down the road.
While I have figured a work-around, thought I'd add my voice to the requests for creasing the limits.
