Wikipedia introduces the vector product for two vectors $\vec a$ and $\vec b$ as $$ \vec a \times\vec b=(\| \vec a\| \|\vec b\|\sin\Theta)\vec n $$ It then mentions that $\vec n$ is the vector normal to the plane made by $\vec a$ and $\vec b$, implying that $\vec a$ and $\vec b$ are 3D vectors. Wikipedia mentions something about a 7D cross product, but I'm not going to pretend I understand that.
My idea, which remains unconfirmed with any source, is that a cross product can be thought of a vector which is orthogonal to all vectors which you are crossing. If, and that's a big IF, this is right over all dimensions, we know that for a set of $n-1$ $n$-dimensional vectors, there exists a vector which is orthogonal to all of them. The magnitude would have something to do with the area/volume/hypervolume/etc. made by the vectors we are crossing.
Am I right to guess that this multidimensional aspect of cross vectors exists or is that last part utter rubbish?
Yes, you are correct. You can generalize the cross product to $n$ dimensions by saying it is an operation which takes in $n-1$ vectors and produces a vector that is perpendicular to each one. This can be easily defined using the exterior algebra and Hodge star operator http://en.wikipedia.org/wiki/Hodge_dual: the cross product of $v_1,\ldots,v_{n-1}$ is then just $*(v_1 \wedge v_2 \cdots \wedge v_{n-1}$).
Then the magnitude of the cross product of n-1 vectors is the volume of the higher-dimensional parallelogram that they determine. Specifying the magnitude and being orthogonal to each of the vectors narrows the possiblity to two choices-- an orientation picks out one of these.