With the latest release you can still add as many PiP's (picture-in-picture) as you like. What is new in this version is the smooth way of handling PiP. Align your videos with the help of the grid once you have dragged the clips down on the timeline. In the preview window you can now add a grid. Choose among different different grids to find one to suit your project. The grid helps you place the videos (or other graphic objects) where you want. With the "snap-to-grid" feature it is even easier to align the videos.
In the movie below, there are 16 videos playing together on top of the "main" video.
Oh! By the way... This video is exported directly from Creaza to YouTube with the new "Export to YouTube" feature.