There appears to be a bug with value lists created frrom a field. If a second field from a related table is also displayed, the value list shows all values from the related table, not just the values that are related to the first table. Please see the attached file:
Table "testdb" contains 7 records. Each record has a related record in table "nametable". The value list is created based on "testdb", also showing a second field, the related record from "nametable". Since there are only 7 records in the first table, the value list should only show 7 entries, with the associated related names, however it shows every record in the names table.
This is using FM12, Win 7. This exact same value list configuration worked perfectly in FM11.
I noticed this same issue in one of my solutions a couple of weeks ago. I don't have a fix yet, but agree it appears to be a bug in 12.