It seems like the main use case is exporting the normal/depth/ambient occlusion maps, which you'd probably end up dropping into your engine of choice rather than using Sprite Lamp itself in your game (Sprite Lamp would generate the assets, but the game engine would display them).
If you have the maps, there's no hard limit to the number of lights you can have in your scene, or colors, etc; it just depends how many lights your engine can support with decent performance.
Think of Sprite Lamp more like Blender than like Unity — Sprite Lamp is a way to create assets.