The list is capped, and that's the point. A list long enough to hide in is the thing that caused the paralysis in the first place. There's a ceiling on how many tasks the wheel will hold — if you reach it, finishing or deleting something is the only way forward.
Only unfinished tasks are on the wheel. Ticking one off greys it out and pulls its slice, so the odds shift to what's left. colors belong to the task, not its position — deleting one doesn't reshuffle everyone else's.
The wheel is genuinely random. Every remaining task gets an equal slice and an equal chance, each spin independent of the last. It won't avoid repeating itself, and a task you keep skipping won't become more likely — which is worth knowing before you blame it.