Using the following detail https://msdn.microsoft.com/en-us/library/gg594433.aspx I was able to create a dependent option set. My question is in the details provided in the link, it says "The label values are included to make the document easier to edit but are not used in the script that filters the options." If you do not include the labels than no values display in the UI.
I am not sure if I have done something incorrectly, or if I am misreading the information. When using option sets the values can change, for example swap out red for maroon, the numerical value associated with red would now be the numerical value for maroon. Ideally I would want the XML file I created to look at the numerical value, and now associate maroon for the available option set value. Right now though it is dependent on the text value contained in the XML file.
Hopefully I have explained myself well, and someone out there can help me.
Many thanks.