Lee, you're right - this is still new to me and I'm getting my terms confused. I found the following in an article by Jon Grepstad which exists in a couple of places on the web (I'll paraphrase):
Technically, pinhole cameras have no focal length. They have infinite depth of field. But from a practical standpoint, focal length is defined as the distance between the pinhole and the film or paper.
For any given distance, one can calculate an "optimal" aperture size, (although there appear to be a few different formulas in use and this is not as critical to image quality as getting a good clean hole.) Generally as the distance gets greater, optimal pinhole diameter gets smaller.
Short distances from pinhole to film/paper result in wide-angle views, long distances result in telephoto views.
Your f-stop is this distance, divided by your aperture (pinhole diameter). From there you calculate exposure times.
I'm just guessing that multi-image pinholes are a combination of short (wide-angle) distance with small (telephoto) apertures. Thanks for the Renner reference - I'll definitely be checking this out.
John - I had no idea there were so many different Lomo cameras! Holy apertures, batman, this place is wild!
Surly - I like that fish image too, reminds me of a good (old) friend who did some similar sculptures. Got me thinking...