It's funny seeing this, as I've been wanting to ask about it here for years, "what would the pixel overlap be for 256x256 textures?". Every time I thought about it I would try to think mathematically, but maths make my brain hurt.
I never tried to approach the solution by making a test texture until seeing this posting (I didn't have any pressing needs when thinking about it before).
You already gave the answer of course (240/8), but I confirmed it.
<img src=/~trackville/pics/256mtm2.gif>
^ I created a texture with a series of one pixel lines, starting with white, as depicted on the left, a shot from mtm2 is on the right.
<img src=http://mtm2.com/~trackville/pics/256gb.gif>
^ The same texture on a groundbox shows clear to the edge, confirming that "ground boxes do not treat 256x256 the same as terrain". Yet I'm almost certain GBs 'wrap' 64x64 textures.
<img src=/~trackville/pics/256wake.jpg>
^ Here I swapped my 64x64 cobblestone texture (60x60 core) with a 256x256 texture (240x240 core), to see how it would look as far as seamlessness goes. Looks good, 240/8 works. My source texture was 200x200, so it resized up better than it did down.