IE5/Mac display of option elements

This form contains five select elements.

The following will be rendered correctly in IE/Mac:

When making a selection, the text of option 3 will not be rendered: ... this is because it is written <option value="3">Option&nbsp;3</option>

In the worst case, no options are visible:

Options with ampersands are displayed, but those with other entities aren't: ... it seems Unicode literals+references also trigger the bug.

Here's the same thing as a multiple select: ... this works much better!

See a screenshot of the problem