hard to say in general but usually it just means 1 match register (duty cycle reg) per PWM output. Some micros have multiple match regs associated with a given timer - the msp430, for example, has 2 or (iirc) more depending on the version.
I think i understand the main part of your code, but I dont understand the part where you record the state - why do you 'swapf STATUS,W' twiee? surely this does nothing? perhaps I am not understanding something about interrupts?