Logged in this morning to find every single option set (regardless of type) appearing as per the image below with all 'items'/values in the list showing as 'New option'. I realise there was an update to the naming of this feature, now concerned that the update has corrupted my options sets?
Yes, faced that too. Got freaked out as well. But don't worry it is not corrupted. Click on ellipsis and click view more you will see the correct Display name. I think its a small bug so they should be fixing that!