There is no upper limit I am aware of. A short test in the REPL (try.frege-lang.org) shows that I can go up to
drop 16_000_000 [1..16_000_000]
which finishes after a few seconds only. Since this program is O(n) I'd estimate a maximum execution time of maybe 30 seconds for 30 million, but with 32_000_000 I get "Service unavailable" after some seconds, which usually hints at exhaustion of some limit of the free web service.
Also, the memory usage of the program above should be constant, irrespective of the number. If it didn't I would consider it a bug.
--- EDIT ---
Tried it on a 2 core 2.9GHz office PC: works like a charm and takes 5.7s. 64 million take 10.5s