Awesome! ideas going on and I think I'm going to love how this will turn out.
An interesting idea came to mind,
But, before I provide a possible solution, let's think about what is going on here and possibly why this hard to come up with a simple solution.
Here's something that is a bit whacky but ...
Why are you all trying to do something with making everything global and universal to make it useful but yet make it so difficult because by making it universal and useful you have to make it difficult. ....
Basically, why are you trying to pound a square peg into a round hole.
In other words, why are you taking a white shirt and trying to make it into a XL, green, long sleeved, VAT included item?
Probably, just because the top product you are using for your options is a white shirt, right?
- This might work if you were selling cars because they start off with no options, no interior and only primer.
How does that work with a T-shirt?
It could if they were all long sleeved, XXXL and white which you cut chop off the arms, have them tailored and then dyed. A bit of job ...
Why not just get some green material and have the made in the style and quantity you want?
Or, how about taking another approach and produce a XL green with long sleeves?
commercial break for a movie:
Anyone? Anyone? Anyone? ......
So, let's use a little voodo economics, actually I'm thinking Ford.
Cars are made from parts, paint and labor using an assembly line. ( <--- if you get it, pat yourself on your back, if not don't worry and just keep reading

)
However, what most people forget is that you start with a blue print when building something.
The blueprint then dictates which parts and what not you use.
Even though the Audio R8 is basically hand built it still uses parts that have been built somewhere else.
Shut already, and say what you want to say
Why not create a table that contain all the options you want and then build your products with those options?
A little more visual:
OPTIONS: size, color, material, tax, etc ...
PRODUCT: price, image, amount, etc ...
So basically, you have the options table which is dynamically built by the shop owner.
But don't call the options for the catalog during the sale but rather call the options when you are building the product in the admin.
The only problem with this is that you will need to populate the product table with options from the start. And this will also require cod e changes in the admin and catalog.
However, this will allow products to be dynamic since they are being built rather than modified when they are sold.
AND, you can have as many options that you can possibly dream of!
Sure you have an increase in total product count but you can still keep the column count down by keeping the options within their own tables.
930sc ... because it is fun!