The only possible problem is if the President is absent-minded and accidentally signs a transaction with one of his VPs, because he remembers this being a 2-of-3 multisig. One option is to decide that's an acceptable failure condition, because the President is using the multsig incorrectly. Another option is to turn the 2-of-3 multisig into a 2-of-4 multisig, just in case the President doesn't tolerate failure: `OP_DEPTH 1 OP_EQUAL IF <pubKeyPres> OP_CHECKSIGNATURE ELSE 2 <pubKeyVPA> <pubKeyVPB> <pubKeyVPC> <pubKeyPres> 4 OP_CHECKMULTISIG ENDIF`. This would allow the President to mistakenly sign with any Vice President, but wouldn't impact things if two Vice Presidents wanted to (correctly) sign.
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