You could, however that doesn't fix the actual problem. This wouldn't wrap the lines at the end of the actual line breaks, just at the max width set. Also, "max-width" is implemented differently in each web browser, so you'd have to work in other code depending on the browser.
Just re-looked over the code, and if the dropdown code was completely rewritten, and the end lines were parsed out beforehand, it could be done, but I don't have the time to rewrite their code to suit my needs. I'll just wait until vB 4.0 or whatever