Can't say, but an example from one of my solutions.
I use Shapes on a background page as containers for words of different languages.
On the page I select a language. That influences from which (language-container)Shape my shapes got their text.
At the moment this supports only 6 languages, so only 6 shapes are conneted with an external data source.
So there is no information concerning your original question about the number of possible shapedata connections, so I guess it's big.
But - and thats the point - my vocabulary consists at the moment of perhaps 600 words, so 600 ShapeData values in one shape are connected or updated with an external Data Source without problems.