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The problem was cause by FireFox. Firefox allows the dropdown to extend past the edge of the screen (on the right) – which meant I wasn’t seeing the rest of the dropdown because the scroll bar was hidden by the screen.
I just resized the browser window, and everything came into view and I was able to scroll down to see the other pages.
I noticed this when I opened Page Management in Internet Explorer – which isn’t affected in the same manner.
I’m having this problem too – i can only see 20 pages in the page parent drop down list.
I can continue to add pages, but only the first 20 pages actually appear in the page parent downdown.