I'm using Profile 2 ver. 7.x-1.0. (using latest version of Drupal 7.8)
If there are more than 1 *required fields that need to be selected before submitting changes or creating a profile, when you go to select an option in HS list 1, there's an error message that appears stating that 'HS list 2 field is required'.
Please keep in mind that this message will appear multiple times as you go deeper into each level of HS list 1, repeating itself stating that 'HS list 2 field is required'.
Lists are created using Term Reference/taxonomy multiple levels deep.
I searched the forums, so my apologies if this was already posted.