To reproduce: use the following code:
private void Form1_Load(object sender, EventArgs e)
{
    this.productsTableAdapter.Fill(this.nwindDataSet.Products);

    this.radMultiColumnComboBox1.DataSource = this.productsBindingSource;
    this.radMultiColumnComboBox1.DisplayMember = "ProductName";
    this.radMultiColumnComboBox1.MultiColumnComboBoxElement.DropDownAnimationEnabled = false;
}

Follow the steps:
1.Click the arrow button.
2.Scroll to the bottom via the Mouse Wheel
As a result the last 3 rows are missing.
3.Scroll to the top via the Mouse Wheel.
4.Scroll to the bottom via the Mouse Wheel
As a result the 3 missing rows are now visible.

Workaround:
this.radMultiColumnComboBox1.MultiColumnComboBoxElement.PopupOpened+=MultiColumnComboBoxElement_PopupOpened;

private void MultiColumnComboBoxElement_PopupOpened(object sender, EventArgs e)
{
    this.radMultiColumnComboBox1.MultiColumnComboBoxElement.EditorControl.TableElement.VScrollBar.Value =
        this.radMultiColumnComboBox1.MultiColumnComboBoxElement.EditorControl.TableElement.VScrollBar.Maximum;
}