1. A computer-implementable method for remapping child references when parent reference updates are processed, the method comprising: creating a List Of Values (LOV) update table, wherein said LOV update table stores parent LOV reference updates of an LOV parent table, and wherein said stored parent LOV reference updates need to be processed for remapping at least one child LOV reference; creating triggers to populate the LOV update table dynamically as the parent LOV reference updates occur; extracting child object LOV mapping definitions from a definition repository, wherein said child object LOV mapping definitions include child table information, child column information, an LOV type for each of said child table information and said child column information, and at least one parent LOV mapping column for remapping said at least one child LOV reference in response to at least one of said parent LOV reference updates indicated in said LOV update table; storing said extracted child object LOV mapping definitions into a control table in memory; in response to an update of said parent LOV references in the LOV parent table, capturing the parent LOV reference updates dynamically as said parent LOV reference updates occur and populating the parent LOV reference updates in the LOV update table via the created triggers; matching the extracted child object LOV mapping definitions with the parent LOV reference updates stored in said LOV update table; and in response to said matching, remapping said at least one child LOV reference of parent LOV data modified by the parent LOV reference updates using said extracted child object LOV mapping definitions.