Bearshare can run with only being connected to 2 ultrapeers. So do not panic it cannot find the full possibility of 26 when run in ultrapeer mode.
Before you connected as an ultrapeer (a peer), you were connecting as a Leaf to an ultrapeer. Leafs need ultrapeers to connect to the network. So connecting as an ultrapeer helps the network. How many depends on what is needed by the network at the time. However the longer you stay connected the better for the network when connecting as an ultrapeer.

Some ultrapeers you are connected to will be marked differently if they are other BearShare ultrapeers as compared to Limewire/frostwire, etc. View Hosts window. Right-click the heading bar & choose to show more options. You can show things like version & origin, etc. You will notice all BearShare hosts will be displayed in green. Will probably also have a lock icon.

In example below. Shows example from Windows XP, connected to 16 peers (ultrapeers). And also Windows 2000, connected to 25 (16 peers, 9 leafs). (IP addresses edited out in accordance with the forum privacy rules.) It's a large image but have squashed it up as much as possible.

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