No Minimum Order, No Maximum Order.
I mean.. if you were to order 10,000 of a unit then they might need to have a talk with you about the $6.50 shipping, but any reasonable number of units and they've already factored that into their shipping costs.
As to the number of items in a single STL, there are a couple of factors to it.
First, you can only have one million triangles in each STL. Reasonably sized smooth curved objects are going to be say ~100,000 triangles per object. That means that you will only be able to get 10 of them into a single STL. If your objects are flat or angular, you obviously can put many more of them within that million triangle limit.
The real catch about loading a large number of objects in a STL is that Shapeways has computed their labor costs based on "most" of a file being a single object that has to be handled only once. If we as designers keep pushing that curve, loading 20-100 items in a STL that must each be handled independently then Shapeways will be forced to clamp down on "Parts per File" - at this time they aren't holding us to any limits, but we Designers need to be reasonable with them so that they aren't backed into a corner.
The best thing to do would be - if you have a large-ish number of items to put in a single STL, then either sprue the items together, put them in a bounding cage, or figure out some kind of way to keep the items held together so that they can be handled as a single part.
Like this: 50 barrels that are barely 2mm in diameter, 3mm tall, but one part for the cleaning/packing/shipping crew: (click image to go to model page)
I realize that jewelry may be a problem. You can't have floating parts in any of the metals.