I'm running 19 miners currently on the Pi and it has not had any stability issues. As you can see in the screenshot below, system load is under 0.1, cgminer processes are mostly sleeping. Some differences from your setup: 1) I'm using scripta and a precompiled cgminer posted by someone initially on litecointalk; 2) I'm running two separate cgminer instances (10 and 9 miners). I would suggest for you to try the precompiled cgminer and see if that performs better. If that doesn't help I would start narrowing the problem by disconnecting half of your miners to see if there is one malfunctioning device that might be causing cgminer to misbehave.
Well it completely stopped so I switched back to Ubuntu server on the Thinkpad for now.
Will try again over the weekend but if it hashes less and produces more errors it's gone. Just communicating my results so far.
This graph shows that it hashes slower and the point where it died (12PM) before I switched back to the Thinkpad.
Looks like people are reporting freezes with the Pi here:
https://litecointalk.org/index.php?topic=9908.225I should mention that this second "fix" was already applied before I tried to use cgminer for the first time on Pi:
sudo apt-get install rpi-update
sudo BRANCH=next rpi-update
Not sure if I will waste too much more time on the Pi...would be nice though. I believe that other are having success so it's almost a challenge...but not quite

For reference here is my commands in full (after the initial menu config):
sudo apt-get update
sudo apt-get upgrade
sudo apt-get install rpi-update
sudo BRANCH=next rpi-update
sudo nano /boot/cmdline.txt
>slub_debug=FP
sudo reboot
sudo apt-get install screen
sudo apt-get install build-essential autoconf automake pkg-config libtool libcurl4-openssl-dev libncurses5-dev libudev-dev
sudo git clone git://github.com/dtbartle/cgminer-gc3355.git
cd cgminer-gc3355
sudo CFLAGS="-O2 -Wall" ./configure --enable-scrypt --enable-gridseed
sudo make
cd ~
screen -S m
cd cgminer-gc3355
sudo ./cgminer --scrypt -o stratum+tcp://pool -u user -p x --gridseed-options=baud=115200,freq=850,chips=5 --hotplug 0
Stock Raspbian Wheezy (2014-01-07-wheezy-raspbian.zip).
Not too hip on using a pre-compiled executable but I may give that a shot before returning the Pi (
https://db.tt/UygLkqwd). Kinda a deal breaker though since I don't want to wait for compiled versions to be released when new changes are made to the source.