Index: classes.php
===================================================================
--- classes.php	(revision 13566)
+++ classes.php	(working copy)
@@ -1262,9 +1262,11 @@
 	 */
 	function start_el(&$output, $page, $depth, $args) {
 		$pad = str_repeat(' ', $depth * 3);
+		
+		$value = ( 'slug' == $args['value_output'] ) ? $page->post_name : $post->ID;
 
-		$output .= "\t<option class=\"level-$depth\" value=\"$page->ID\"";
-		if ( $page->ID == $args['selected'] )
+		$output .= "\t<option class=\"level-$depth\" value=\"$value\"";
+		if ( $value == $args['selected'] )
 			$output .= ' selected="selected"';
 		$output .= '>';
 		$title = esc_html($page->post_title);
@@ -1454,10 +1456,12 @@
 	 */
 	function start_el(&$output, $category, $depth, $args) {
 		$pad = str_repeat('&nbsp;', $depth * 3);
+		
+		$value = ( 'slug' == $args['value_output'] ) ? $category->slug : $category->term_id;
 
 		$cat_name = apply_filters('list_cats', $category->name, $category);
-		$output .= "\t<option class=\"level-$depth\" value=\"".$category->term_id."\"";
-		if ( $category->term_id == $args['selected'] )
+		$output .= "\t<option class=\"level-$depth\" value=\"".$value."\"";
+		if ( $value == $args['selected'] )
 			$output .= ' selected="selected"';
 		$output .= '>';
 		$output .= $pad.$cat_name;