exorgroup:
Is there a way to have more than 127 addressable Arduino to work together - Currently working on a project idea that will require more than 127 Arduino and the I2C only supports up to 127Thanks
You would have a distance issue most likely without extending the i2c bus for that many also, unless they are on the same board.
RS485, thi Arduino Interchip Serial Communication library supporting RS485 is probably just what you need.
http://sourceforge.net/p/arduino-icsc/wiki/Home/