Sometimes we have to help ourselves or each other ----or we could be waiting for a while.
So I had the same issue.....but messed with the setup a bit.
If you have for example 4 values for a Drop Down menu (1|2|3|4) then you will need to fill out the selection limits as 0|0|0|0. Save and you should see all your values now.
This should be a bug since it says that the "selection limits" are optional and since the radio buttons and check box works fine when just placing a 0 only. For some reason you have to give a 0 for each value for a drop down menu.
norm - as was answered here, you have to provide selection limits. If you are allowed to create a custom field without providing selection limits, then you don't have the latest build. We modified that about a day after that feature was added for this very reason. Thanks.