Thank you for your post.
If your value list for the field is based upon two fields, make sure you are sorting by the correct field. It sounds like you may be sorting by the first field. One way to double-check this is to duplicate the existing layout, and add the second field to the table. When you sort by the second field, you should be able to see your records.
Keep in mind that a value list will show only unique values from the field used for sorting.