Thanks Stephen. I had suspected that renaming the Group names would allow me to sort, so not a big deal. When I attempted the workaround, I was able to get the last entry to show on top so I thought I was good. What I didnt realize is that the sort seems to go in the order the field values were created, not based on the name.
Sorting does not sort by name ascending/descending, but by Field Option Creation Date.
Since I am not able to sort by name or rearrange manually, it is almost unusable. Here are screenshots to illustrate the point. Let me know if you want more views.
Created Options in this order, 3 from creation, 3 from editing:

Regular Sort Ascending:
Group By Sort Descending:

