Autocomplete select custom field displays VALUE instead of LABEL in edit mode

When editing a contact record - the string shown in an Autocomplete Select field is the stored VALUE rather than the LABEL. This is incorrect.

To recreate:

• add a new custom field, type = Alphanumeric html-type = Autocomplete
• add a few "multiple choice" options - set the Label and Value to different strings

• edit a contact record and choose an option for the field (the drop-down properly displays your LABELS) and save
• now edit the same record again and open the custom data pane - you'll see the VALUE rather than the LABEL displayed in the field