Ike Sutton responded to my questions yesterday! One of the questions was "Can keywords have spaces?" so according to Ike in response to your question on Blue Cross being 2 words. He explained the system automatically removes the spaces sent in the text message so bluecross can be texted as either one or 2 words. This should answer everyones questions regarding the use of multiple words.
OK found your personal email, sent you a message in regards to setting up my company with keywords. Showing is believing. I am not even from the show me state. LOL!