If I understand the code correctly, then the slice size in the snippet below is not relevant as far as the rate limit is concerned, yes?
Regardless of the slice size, really what you need to know is the math on the Twitter Rate Limit chart...
https://dev.twitter.com/rest/public/rate-limits - and the limits on the individual calls (e.g., /users/lookup will accept up to 100 IDs.)
The gem as far as I can make out only reflects these numbers.
Just thought I'd put this in here, in case someone stumbles on this post via the Internets.