Import All but Folder Listings are partial

I recently imported 31K from a photo folder and it's subs. It appears that all of the images came in, but when I look in the folders area, it only shows some of the folders. For example a vacations folder has 4 different folders in it, the photos appear in the browser but only 2 of the sub folders are listed in the folders breakdown.

Anyone else have this kind of problem? I am using the latest version of C1P. Thanks.