Can an individual set of armor use its own skeleton? I'm asking because the armor I'm making (full body) I want heals, but I actually want the figure to be taller. Can I adjust the skeleton for this armor and have everything work?

AFAIK: no.

Darn, is that because the aniamtions are all for the current skeleton, the only difference would be that the modified one would be raise a little higher.

You might've noticed that beth guys were soooo incredibly lazy that they've only put in a single skeleton and a single set of set of animations for both the males and females.

Damn, lazy... argh.

Anyway, I'm realy not certain but for all I know all that stuff's hardcoded.

What he said.

However - you can make the meshes taller without changing a thing about the skeleton (this is why giant and little modded races exist). Just make the mesh whatever size you want and do the rigging as normal, and it will work fine in game (provided players equip the entire suit at once, otherwise they may develop Tiny Head Syndrome or the like).