The 'revisions' tab on the dropdown correlates with your responses -> revisions tab at http://stackoverflow.com/users/644450/oers?tab=responses#page_1-rfilter_revisions
(Note: Visible only to you):
rather than your activity -> revisions tab:
I disagree that the dropdown reflects actions you did:
- reputation: This is reputation you've earned, which is an action by other users on your profile. You get it by posting, but it's not automatic.
- favorites: These are changes made by other users to your favorites. The hovertext says "X new answers or comments on your favorites today/this week/this month.
- votes: This is, in fact, the votes you've cast on other answers and questions, not an action by other users on your profile. It might be here because it's something you'd want to know at-a-glance if you're approaching the vote limit.
If you want to see revisions you've made, you'll have to use the activity tab. I think that revisions that you have made are more interesting and should stay in the dropdown - you can remember the revisions you've made to others' posts, but the revisions others make to your posts are probably news to you.