Hi,
Not sure exactly what the error message would be if you try to configure more then 128 instances, but if you are planning to have 129 instances, you would need to delete one of the existing instance before you can add the 129th instance.
sh span-tree will show you one vlan per instance, but the numbers don't necessary corelate For example: if you have 2 instances in your switch, the vlans for these instance can be 250 and 270.
HTH