That control was designed to be used as a module setting in Event Calendar Pro but I put it in mojoPortal core in case it was useful in other features. Each module setting is just one property so I needed a single control and a single result value. There is not a way in the module settigns page to have cross talk or dependencies between settings so I could not use a separate setting for country and separate for state. By doing it as one setting I was able to have the state dropdown inside the same setting control and make it populate according to the selected country.
Its pretty easy to split the values, but if you don't like that you could populate your own dropdown lists instead of using that control. You could even borrow some of the code from inside that control since iy has the logic to populate the dropdown lists.