"Value(s) from list option is greyed out in the query filters panel of WebI 4.0"
It could be that the unique field identifiers (semantic layer) are corrupted. See SAP KB 1295873 - After migrating an OLAP Universe based on SAP BEX Query, the WebIntelligence Query Panel shows the wrong Results Objects, and a query filter using prompt 'Value(s) From List' becomes grayed out on http://service.sap.com/sap/support/notes/1295873 for detail.
Hope this helps,
Jin-Chong