There is no limitation on the number of mailboxes being displayed with respect to the product license.
The customer should be able to see all of the Archive Manager mailboxes and they should be accessible for export/import.
In the case of Archive Manager bundled license, the number of mailboxes in license file limits only Exchange mailboxes added as target.
It does not affect Archive Manager mailboxes.
Nevertheless, customer should be reminded that product usage is bonded by the license agreement and number of purchased licenses.