Short answer: yes

The client, i.e. the video player, can handle multiple channels with the channel data and state stored in the browser's storage ("IndexedDb")

And the server doesn't care which channel is used to pay for a particular segment of video. Each segment is just a few seconds of video, hosted on Blossom, and the blossom server doesn't care about users or videos. The only 'state' maintained by the server is the current balance of each channel, in order that the channel can detect if somebody tries to "rewind" a channel to a previous state

So rollover will be a client feature (not implemented yet, but soon), and the protocol and server don't need to know about any rollovers