Pega Version: 6.2 SP2

I have just discovered a page list property in my application that is of the same class as the application that contains it. When I drill down into it in the Application Explorer, I see the same properties listed below it again as are in the application that contains it, including the page list itself. It would seem that you can keep drilling down each subordinate page list property and see the same long property list below it again and again ad infinitum.

This seems odd/wrong to me (and possibly rather worrying to!) unless it's just a silly/embarassing gap in my knowledge (most likely!)

Questions:

1. When appending a limited number of values to this page list (eg in an activity) will this create a big property list for each record appended that comprised all the properties in the application class upon which it is defined? If so this would be a large unwanted and wasteful overhead.
2. What effect (if any) does the seeming circular reference created by this page list (where it includes itself in it’s property list) have on Pega and/or rule resolution etc?

Apologies if these questions are a bit dumb ...I'm a bit of a newbie!