Limited to 7 Categories?

Is it possible to have more then 7 categories listed for the “News Block” page builder?

This severely limits how many news pages you can have because it will only ever display 7. Is there a way around this? To see the rest of them, or cycle through them? or where to find the code to rename category name?

See Link for better understanding of the issue -> http://imgur.com/TERhqQQ