From what I can gather you want the text next to your dropdown list to change depending on some conditions of that record, is that right?
I can't see why you'd want too, but...
You could use a calculated field that changes text to what you want by using If or Case statements; and then make it look like a label, using the Inspector, turning off the Fill and Line colours, and disabling field entry in Browse and Find mode.
You can also use the value selected from this value list to select which record in a related table is used to display data in one or more fields, or even from multiple related records via a portal.
Thus, if these guesses on our part haven't answered your question, you'll need to explain what you want in more detail.