Hi,
256 HSRP groups(0-255 group ID's) is a usual capability of many platforms(I doubt there's a more capable one), so you are right.
The important point here is the fact, that this is the number per interface, i.e. one could reuse the same ID's on other interfaces as well actually having much more HSRP groups on a box in the end. So in theory there's no software limit, however please do keep in mind, that at some point in time your HSRP sessions will start to flap - because of what? right, the hello packets being exchanged to keep the session up. With subsecond hellos you won't even reach a dozen of groups per box.
I hope this explains.
Regards,
Ivan.