It used to be that when you imported/migrated records into Zoho CRM, the underlying pick list values would not be changed. That is, when importing a record having a value for a field that was not on the current option set, the field would be set to the value of the incoming data, but the option set would not be updated. Recently this has changed, and now the option sets DO get updated. So be sure to clean up your data prior to import or those pick lists could get really long!