Related, from the ColdFusion documentation:
Some browsers allow only 20 cookies to
be set from a particular host.
ColdFusion uses two of these cookies
for the CFID and CFToken identifiers,
and also creates a cookie named
cfglobals to hold global data about
the client, such as HitCount,
TimeCreated, and LastVisit. This
limits you to 17 unique applications
per client-host pair.
I guess this deals more with how many applications you actually run rather than whether you have them all share the same client data store, but it does suggest that there may be some kind of hard limit on the total number of apps you can run at once, although I'd recommend splitting across hosts (or just using a different domain name) if you're planning on more than 16 apps!
As Eric stated above, running multiple apps off of one datasource is fine. What I would warn you is that these databases can fill up fast if you're not careful to block spiders and search engines from using them. Because CF creates client variables on each request for a new session, a search engine will get a new one every time because it never sends its old credentials/cookies so CF thinks it's a new user who needs a new client variable set. Also, be absolutely certain to check "Disable global client variable updates" in CF admin. This will save you a lot of unnecessary overhead.