WSSV3FAQ

When you have a web part representation of a List (a "List view Web part") on a page, you often need to edit the View that it uses. To do this you need to Edit the page and then do Modify Web part and you have a dropdown allowing you to specify the view you want to use from this particular List View Web Part. The limit in the number of Views is 50. This is hard-coded and can't (according to MS support) be changed.