Custom Field, changing options - shows in User Login report but not User properties

Summary

Changed the name of the custom field option but not showing in user properties BUT is showing in User Login report

Content

I created a new option for a custom user field and "tagged" my users.  When I realized I had to eliminate one of the characters (to make the dynamic groups work) I made the update.  Within the user properties, I can't see the "old name", only the new and it's not selected for the users.  But, my User Login report shows the users with the old name (even though I don't see it in their properties)

It's a problem if I'm trying to remove the value from the user property.  Luckily for my current situation, I'm needing to retag them.  But want to be sure if I change the name of an existing custom field that I understand how to propagate it ... or understand the business process is the delete the field and create a new one.