ListPicker of Silverlight Toolkit for Windows Phone 7 is very useful, but unstable
ListPicker of Slverlight Toolkit for WP7 is almost a must-have for developing many WP7 apps. Unfortunately, it is yet to mature. It has numerous issues (Items cannot be cleared by using Clear() or Remove(), it must have one item once it is populated; ItemCountThreshold cannot be set though the prior version could; it cannot take more than 5 static items, ...).
Populating ListPicker dynamically by adding ListPickerItems directly should be avoided by all means. It may work, but may crash for certain scenarios. ListPicker should be populated dynamically only using ItemsResouce (i.e. data binding).