My friend found that out with his Hunter.
Personally I think it's pretty lame that you can't stack 3 or 4 charges. They'd say, "but it's OP for Crucible!"
To which I say, **** the Crucible. It should have been using separate gear and/or limited gear since the beginning.
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I really just wanted to use it for PvE. It would make for good crowd control.
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Precisely, which is why I think PvE and PvP should use separate gear sets. Trying to balance gear for both is silly; you should totally be able to use 3+ charges if the gear allows for it instead of being hard-capped at 2 for "balance."