I don't think there should be a limit. It's up to the jam hosts/organizers (which, in some cass can mean the whole community) to enforce their own rules re:the game jam theme, whether or not the software goes against any policies, etc.. I think having lots of jam submissions is good for a game, it enriches its visible identity and community presence; no, I don't think there should be a limit or a hard cap to the number of game jams to which one single game/peice of software a game can be a part of; again unless that <i>specifically</i> goes against a certain game jams' rules.
Viewing post in The Game Jam Spam Epidemic
The logic and idea of a jam is to make a game within the specified timeframe(from start of the jam to the end), within a specified theme and specified constraint. If you have a game applying to multiple jams, most likely it is not being made within the specified timeframe and constraint. That is not participating the jam, this is just trying for free advertisement. I do agree that it’s up to the jam hosts/organizers to enforce the rules, but multi-jam entries are completely against the entire spirit of a jam-game.