The tooltip does now indicate that 3 buffs are the limit but upon activating buff 3, the 1st buff is dropping off.  The buffs I am using are Fiery Form, Divine Shot, and Warp Speed.  3 different buffs from 3 different psychic power trees.  When playing co-op, my teammate is still seeing the countdown timer for all 3 buffs but the fiery form buff effects are obviously dropping away when the 3rd buff is added. I tested for conflicts between Fiery Form and Warp Speed but found no issues with just those 2 buffs, yet once I added Divine Shot, Fiery Form still dropped away.