When a user goes into the Work Views page and set the Swimlanes to Releases, the Unscheduled option does not appear. Why there isn't an Unscheduled swimlane in the work views or any pages in Rally? is this a defect in Rally?
Unscheduled release means that artifacts that are not been assigned to any of the existing releases.
Release : SAAS
Component : SAAS
Technically, the reason unscheduled isn't a swimlane is because it isn't a real value, it's a lack of value. So, if a work item isn't set for a release then it means it's unscheduled, but the release field is empty. When Work Views groups by the swimlanes it only is querying for items that have the release value set, so the empty ones (unscheduled ones) are left out.