You have to do something a little extra for this, you would store the instance selected, for example the UID, in a local variable with your 'on selected' event. Then as a sub event you 'pick all' instances and set opacity 100, then again as a sub event you pick the instance by UID, the variable value you stored, and set it to 70.
This is because when you use on selected event it narrows the selected instances to just 1, you have to open them up again with pick all to set everything back to default, then return to the original one instance to pick that and set it to 70. Hopefully that makes sense.