Why don't existing select lists on components not update?
The select list values are saved at the time of creating the select list on your component.
When adding an existing select to a component, the select list values are saved at that time of creating the component. For example if you add, Context visibility to add a context to a component, then creating a new context after the creation of the component, the new context won't appear within the select list automatically until you go back and edit the select field on the component and re-save.
In many cases you might not want the select list to automatically update to give your site editor access to a new option.
This has now been updated in version 5.6.0 of Cohesion and Existing selects in components will now dynamically load options.
