After contacting ESRI Support, there is no way to actually achieve this through a singular event, but you can do them in tandem.
The suggested approach was:
private SubscriptionToken eventToken = null;
private void SetupPaneEvent()
{
eventToken = ActivePaneChangedEvent.Subscribe(OnActivePaneChangedEvent);
}
private void OnActivePaneChangedEvent(PaneEventArgs args)
{
//The window that is selected is a table, so then register an event that handles selections
if (FrameworkApplication.Panes.ActivePane is ITablePane)
{
eventToken = MapSelectionChangedEvent.Subscribe(OnMapSelectionChangedEvent);
}
else
{
// not a table? Unsubscribe.
MapSelectionChangedEvent.Unsubscribe(eventToken);
}
}
private void OnMapSelectionChangedEvent(MapSelectionChangedEventArgs args)
{
//Do work that detects which source and how you need to filter out different actions between feature classes
//and stand alone tables
}