The maximum size that can be specified in the ZBBVPUP DEFINE statement is 2 terabytes (SIZE(2000M)).
VPAM is also limited to 1 volume and the first extent. If you try to go beyond this, the file will be allocated as you expect, except only the initial space will be formatted while the rest remains unformatted and unusable by Alchemist.
NOTE: This limitation has been removed in 5.2 so that you can allocate a VPAM greater than 2000M, with secondary extents and across multiple volumes.
This Frequently Asked Question applies to all supported releases of ESP Alchemist beginning with 5.1.