Well, it is possible to have quite a few more pictures than typically allowed.
Teqnolog created one such excess album here:
The album has 11 pages instead of the traditional ten, and holds 212 photos.
So how was it done?
Error. Error on the part of Facebook.
When the on-site photo uploader doesn’t work correctly and begins to reload previous shots in an effort to ensure that they were all uploaded, sometimes the numbers can slip beyond 200.
In some experiments, the number of pictures uploaded into one album was well beyond 212 even.
Have you been able to recreate the experience? Post links to your albums in the comments.