I normally use display option on a rough level (big,small) and then define the exact stacking in css using bootstrap for the different resolutions. I normally avoid using channels if I don't have something really strange I need to support. Not really an answer to your question I know :)
Not sure what you're after but I hope to give you some clues.
As Daniel says it's common to not have a too detailed set of Display Options, basically becayse you only have one list where you can't have separate sets of Display Options depending on content or Content Area.
Also if you want to have a combination of Display Options and Display Channels you can hook up to the Template Resolving events http://world.episerver.com/documentation/Class-library/?documentId=cms/9/25BAB902 and adjust to selected template. However this might make things feel "magic" and out of control for the editor as it might not be clear what's going on.
In essence I want to allow our editors to set the specific bootstrap styles for each channel without having to worry about them having to know bootstrap. I would like them to be able to set a column to be 1/3 wide on the largest size, 1/3 wide on the medium, and something like 12 wide on the smaller. Right now, I know of only setting the largest size and having it default to whatever the preconfigured breakpoints are at that medium and smaller sizes.
Is there a method of allowing multiple selections of the display options with one selection per channel? We used the Bootstrap Content Area add-on, which is nice, but it predefines breakpoints at the small and medium size that perhaps we may not want to do. In essense, we may have 3 blocks next to each other that each take up 4 columns, but at the medium breakpoint size they take up 6 columns instead of the 4 we would want to render them as, then at the smaller size, it takes up 12 instead of perhaps 6. I'd like to have the option to set the display options as 4 columns for the large size, 4 columns for the medium size, and perhaps 6 columns as the small size. For a different set of blocks we may want a different layout on different devices.