Russ,
We have all types of considerations..
The less volume we have for the same rod displacement the steeper the pressure rise. That adversely impacts sag measurements (when the shock is heated), by impacting what is called the nose Pressure, rod charge, or gas springing. At the same time some tuners have used that effect to increase the effect of the rod charge above a certain rate of compression ALA The secret Enzo subtanks shown on the factory Kaw bikes of Ezra..
The larger the volume the less impacted by heat in the pressure rise relationship. (Addtion)
Diameter is the big one however, the larger the diameter of the reservoir the less the hydraulic relationship between the pressure in the reservoir and rod charge matters. So in general you could have a huge but narrow reservoir and have more impact on rod charge than if you had a wide and small volume reservoir. (Divison)
The basic constraints are fitment, and if the shock gets too big then it won't heat uniformly and that's as bad as overheating.. A shock warmer makes lots of sense when you think about it.
BR,
Jer