pthorley....even though there was an L/240 brittle finish criteria before, there has long been a reference in the building codes (UBC, SBC, IBC) to ASTM C926 for stucco. As stated in the administrative portion of the code (Chapter 1), reference standards are to be treated as if they were included verbatim within the code. That said, ASTM C926 "Standard Specification for Application of Portland Cement-based Plaster"(Stucco), requires L/360 design criteria for the substrate to accept stucco. As with any provision of the code, where there is a conflict between two criteria, the more stringent will apply.
The serviceability criteria apply in all directions (at least in my opinion). If deflection is caused, without regard to the direction of application, it should be considered. Chances are that it will be critical in only one direction; however, you won't know that unless you check.
The criteria should also apply to all forms of stucco; although, the manufacturers of "one-coat" stucco systems are working under an evaluation report for code equivalence and they will argue that their systems are not required to meet the criteria of ASTM C926.