I'm pretty sure there is a way to do this and I'm hoping you guys can help me
out.

On one tab:
Group 1
Option A
Option B
Option C

Group 2
Option D
Option E

I have the conditional formatting set up to grey those options out when an
option is taken. This is contingent on a drop-down box next to each option.

What I also want to do is, preferably on a seperate tab, have all of the
options in a master list, that will update itself based on the drop-down
boxes.

For example:

Option B
Option D
Option A
Option C
Option E

Then, Option A is selected on the first tab, and it makes the list read as:

Option B
Option D
Option C
Option E

What I can do, but I don't want is:

Option B
Option D
(Option A Greyed Out)
Option C
Option E

Anyone know how to pull this off?