Why are the dropdown lists not loading?

I recently downloaded the Warranty and Repair Management Bundle. Setting that up was not as simple as I thought it would be, but I pieced my way through up until the Warranty Claim form.

Under the Warranty Information label, there are two mandatory drop down fields Failure Reason and Action. When I hit the drop down arrow and select list in either field, I get the spinning arrow icon, which isn't out of the ordinary when a options are loading, except it never stops. I've left it running for hours, and the list never loads.

I have Administrator access so I can add lines to the