The user defines more than 25 values for a picklist, but when translating them in Translation Workbench of Salesforce CRM, only 25 items displayed.
This is currently working as designed. Only 25 items display even there are more items for a picklist.
If there are more than 25 picklist values and not all of them are shown in translation. The user needs to click the Next button on the bottom of the page to get the next block of picklist values on the next page.
CRM Help Documentation: N/A