OK - right, this is in fact the select module by Hani, (got so used to installing that,forgot it was a separate module..);
But i can confirm that the option/value feature of this module doesn't work for me, or if it does, the code might need to be updated to allow for changes to the list after the initial setup; It works fine if you don't have the option/value pair;
I guess i'm going to start using apeisa's suggestion, since it will enable the end users to add options without having to go in and edit a field; I usually have a hidden 'settings' page with the global site settings, so i have seen it suggested elsewhere in the forum to setup a child page within that settings page, and below that define dropdown options; so in my case i would have a child page of settings called 'language choices' and then each of those could contain the option/value pair...
-marc