I can't tell from the OP's code whether I'm answering their question, but maybe this will help somebody reading this question. The ComboBox has four ways to set the current value:
SelectedIndex
SelectedItem
SelectedText
SelectedValue
You need to be consistent about what you're setting (and about which event handler you're using). You'll get an error if you set SelectedIndex to something dumb (less than -1 or longer than the list). However, you don't get errors setting the other three to something that doesn't exist for that type of selection.
Suppose you use a Dictionary (that's pseudo code) as a binding source and set DisplayMember = "Value" and ValueMember = "Key", the mapping would look like:
SelectedIndex - -1 to index of last item
SelectedItem - KeyValuePair<Key, Value>
SelectedText - Dictionary value
SelectedValue - Dictionary key
Supplying either value or key to SelectedItem will not generate an error, it will simply act like the OP has described. And that's why I thought this answer might help somebody.
I might also note that, if you're swapping out the contents of the ComboBox, it's not always safe to use SelectedIndex. Suppose the same basic kind of data is in the ComboBox, but selections are limited in some cases compared to others. Using SelectedIndex to persist a previous selection that was still valid in the new list of options is only going work if that previous selection held the exact same place in the list. You'd almost think this was the voice of very, very recent experience speaking...