Set log level: wrong placeholder and default chosen item

Refs: #39572

F1 > set log level
Notice that the quick open placeholder is `Select Process` which is wrong.
Also I would expect that my current log level is chosen as default which is not the case

![screen shot 2017-12-05 at 11 22 02](https://user-images.githubusercontent.com/1926584/33602088-8d9683d2-d9ae-11e7-96cf-04b1f03dc3ff.png)
