|Obviously, without seeing your situation it's hard for me to understand exactly what is missing.|
I just want to make sure we are talking about the same thing.
In my Excel 2003 installation, it's not called "Search", it's called Find and Replace.
If there is more than one instance of the value I am trying to find, they don't appear in a "drop down" (which is usually indicated by an downward pointing triangle)...they appear in a small window with a vertical scroll bar.
The "Option" button expands the Find and Replace dialog box and allows me to look within the sheet or the workbook, Match Case, Look in: Formulas, Values, or Comments, etc.
Is this the feature that you are having problems with? If so, what are you seeing (or not seeing)?