Just tried the version 1.2.8 [5074], it should not be a bug of Zenphoto.
On admin upload page, it use a javascript for a seletion box for upload foloder. Since I have a lot folder, the new array function length is about 11000 characters. Seem the Chrome don't like so long, it will break the line irregularly, so the upload folder can't display properly.
Same case on Chrome Mac or Windows version, but do not have problem on IE, Safari, firefox.
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Anyway, seem can't use Chrome to admin the Zenphoto, just found similar case on Album admin page.