Multisig and Free asset names now live in Counterwallet!
Great! And they're off to a flying start - https://www.blockscan.com/asset!
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Then intend of the code is good, but in the implementation I have identified a couple flaws:
As stated under 6, the redemption deadline isn't fully implemented. This is problematic as it conflicts with the administrator being able to withdraw funds after the deadline.
Winning numbers can be redrawn multiple times after the lottery deadline, potentially overriding previous drawings. https://github.com/PeterBorah/ethereum-powerball/blob/master/contracts/lotto.se#L62-L81 As this can be triggered by anyone this is a serious concern. Suggested is to 'freeze' the lottery after the lottery deadline until the redemption deadline has expired as well.
Relying on block.prevhash is a security risk as this can be abused by miners / mining pools using a block withholding attack. If this is a real threat depends on the payout amount of the lotto. Since the RNG is configurable, I'd consider this to be currently good enough for the bounty.
Minor feedback for improvement:
use def init for automatic initialization upon contract creation
specify explicitly in requirements.txt which pyethereum / ethereum-serpent library are supported
create user interface ;)