On my page I currently have the Google +1 button twice on my page, and also a widget promoting my business page on Google+ Will Google penalise websites which has the +1 button too many times?
You are safe. I have it twice as well and not issues so far. Mine is merely do to the design of a vbulletin forum.
You should be fine. The more Google +1 that you can post then the better off you may be. The verdict is still out on how helpful it will be but considering the number of them I am seeing it may be a hit after all.