Unfortunately I’m unable to reproduce the issue. Do you have a custom page added to the component which enables the drop downs? If you drag, say, the histogram from the palette, and RMB->Customize Component on that, are the drop downs working in the component editor?
It sounds like you haven’t created a “Parameter Page” first. You need to first create a page that the parameters will live on. After there is a Page added, you should be able to create parameters and all the drop down menu will be enabled.
Sorry for the inconvenience. We got proactive on what I thought it was anyways and now if no Parameter Page is present we create or for you with the first parameter you create.
I just realized my issue was when I turned cooking off! Not really a bug but also not intuitive but I don’t see any way around it other than making tutorials be like “if anything isn’t changing, make sure cooking is on and the timeline is running”