I've located an interesting interview with the author of the ripple consensus paper I previously linked:
https://www.youtube.com/watch?v=GyNXedeCyNg&feature=youtu.be&t=4m20s4 minute 20 second mark:
Interviewer: In the case of Bitcoin, the vulnerability in terms of attackers is 51%. What is that percent in Ripple?
Schwartz: So, if you're just trying to prevent the network from making forward progress, it's lower, you can prevent the network from making forward progress with as little as 20%. But if you do that, you essentially have to cryptographically sign the messages you are sending to do that, and everybody would just stop listening to your keys. So the consequence of that, if you do a 51% attack on Bitcoin you make money, you can do double spends. In Ripple, you can only prevent the network from making forward progress. And the solution is very simple, you just stop trusting the public keys which have provably colluded to prevent the network from making forward progress.
With a public bitcoin-style blockchain, anyone can anonymously connect as many nodes to the network they like. As the 'hashing power' of a single group of colluding parties on the public network approaches 51%, the ability of this group to commit undesirable actions increases. For bitcoin, one of these 'attacks' is referred to as 'double spending', where the colluders can reverse a transaction in order to spend it again. I believe the profitability of the double spending attack in bitcoin assumes there is some external good which people are acquiring using bitcoin and then keeping after the spent money disappears from the receiver's account. If a Bitcoin style blockchain was to be used to facilitate multi-party vote counting in public elections, I'm not sure if the 'double spending' attack would actually allow for double voting or vote swapping. However it might cause disenfranchisement, where voters receive confirmation their vote was cast from an electronic voting terminal, only to later find out at the end of the election that it was reversed and never included in the total. There appear to be a variety of other concerns associated with the '51% attack'. It may be hard to predict how these concerns affect voting systems without examining specific proposals.
In contrast, if a Ripple-style distributed ledger was used for multi-party electronic vote counting, it appears the worst that can happen is that the vote counting would be paused. If 80% of the vote counters could no longer reach agreement on the the next set of non-fradulent votes to add to the officially recorded list of votes, then the election would be paused until the vote counters exhibiting faulty behavior were identified by their public keys. These public keys could then be traced to specific organizations, such as a newspaper office, a political party, or a county election board.
In both a blockchain and a consensus ledger, I believe voters could audit the final results at the end of election, provided the format in which electronic votes were recorded had cryptographic properties which allowed for them to do so. However, this would already be the case if votes were counted centrally by a single party. If a cryptographic voting method allows for auditing at the end of the election, then decentralized multi-party vote counting using a blockchain might not add much value. However, if multi-party electronic vote counting was implemented using a Ripple-style consensus algorithm, then this might add a valuable feature where the entire election could be 'paused' within 5 seconds of fraud or fault occurring. This could potentially allow anyone monitoring the network to trace fraud to its source in less than 1 minute of it ocurring. Pausing the election when fraud is detected might be preferable to waiting to the end of election to check for fraud, as fraud detected at the end of an election could be harder to rectify if a winner has already been announced.
I have not yet surveyed existing proposals for electronic voting systems to see if there are alternate proposals for distributed multi-party vote counting. However if someone is looking into Bitcoin-style blockchains to add such a feature to an electronic voting system intended to be used in public elections, I would recommend that they look into the 'Ripple protocol consensus algorithm' first.