within MS CRM 2011 it is possible to count all list entries in views, but this is limited to 5000 records.
If you have more than 5000 records in a view you will get 5000+ as the count result.
Just a simple SQL statement against the CRM config database can help you to see all records.
Update DeploymentProperties Set IntColumn=-1 Where ColumnName = ‘TotalRecordCountLimit’
You can see all your records after a IIS reset.
But be careful with this.