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In one of the Vykkers Lab's levels in Munches Oddysee, there is a room with a whole bunch of cut-up and dissected Elums (Elum?), so it can be inferred that there is, or was, in fact, more than one.
Also, you see a poster for some sort of Elum snack food in Rupture farms, or so i hear.
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I always felt the mutilated, headless Elums at the end of Munch's Oddysee were meant to represent Lorne's frustration with the whole development nightmare that OWI went through at the time. Not being able to implement things they wanted in Munch's Oddysee or even release a finished product must have been very upsetting to him.
Anyway that's what I got out of it.
EDIT: It is very obvious Elum is the species, not the name of that particular creature, and yes it is also obvious that there are more than one.