The data back from JSON includes "position":"3" so the information is there.

The javascript looks good:

(function ($) {
    $.fn.loadJSON = function (obj, options) {

        function setElementValue(element, value, name) {
            var type = element.type || element.tagName;
            if (type == null)
                return;
            type = type.toLowerCase();
            switch (type) {

                case 'radio':
                    if (value.toString().toLowerCase() == element.valu
+e.toLowerCase())
                        $(element).attr("checked", "checked");
                    break;

                case 'checkbox':
                    if (value)
                        $(element).attr("checked", "checked");
                    break;

                case 'select-multiple':
                    var values = value.constructor == Array ? value : 
+[value];
                    for (var i = 0; i < element.options.length; i++) {
                        for (var j = 0; j < values.length; j++) {
                            element.options[i].selected |= element.opt
+ions[i].value == values[j];
                        }
                    }
                    break;

                case 'select':
                case 'select-one':
                case 'text':
                case 'hidden':
                    $(element).attr("value", value);
                    break;
[download]

At a loss. I don't see "value as either a global attribute or an attribute of select.

Attributes defines: value <button>, <input>,