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You could upgrade to 15 where I think that they fixed this. (Might test a free 15 day trial download to be sure.)
Since that "Type one or two letters very quickly to scroll the list" trick never appealed to me as a good UI design, I've worked up alternatives that are better options, in my opinion.
a) do it "backwards".
Set up a relationship that matches by product name or description to products in addition to the one that matches by product ID. Format a text field to use a value list that just lists this name or description field, no ID. You can now format this value list to "auto-complete" on the value list--which in my opinion, works better than that "type quick" option. Then use this name based relationship to look up the ID and auto-enter it into the ID field that you originally set up with your value list. With additional scripting, this value list can be set up to add new products or handle cases where two products have the same name--neither are likely to be what you need here, but in other cases, this can be quite useful, such as when working with a value list of contacts in a contact manager.
b) don't sue a value list at all. Set up a selection portal inside a popover where you enter some text into a search field above the portal and the portal updates to list matching entries. Clicking a product in the portal row then selects it for your record.
Working examples and detailed documentation on each can be found in this teaching file:
And please note the "Geek Busking" info on the introduction layout.
Thank you! I have taken your advice and created a new single field value list, with a script that populates the ID behind the scene.
Thank you again for taking the time to write such a carefully expressed suggestion! Mike