I use this code to select element on map and then call my change value function:
Private Sub UIToolControl3_MouseDown(ByVal Button As Long, ByVal Shift As Long, ByVal x As Long, ByVal y As Long)
Dim pMxApp As IMxApplication
Dim pMxDoc As IMxDocument
Dim pMap As IMap
Dim pActiveView As IActiveView
Dim pEnvelope As IEnvelope
Set pMxApp = Application
Set pMxDoc = Application.Document
Set pMap = pMxDoc.FocusMap
Set pActiveView = pMap
Set pEnvelope = pMxDoc.CurrentLocation.Envelope
pEnvelope.Expand pMxDoc.SearchTolerance, pMxDoc.SearchTolerance, False
'Refresh the old selection to erase it
pActiveView.PartialRefresh esriViewGeoSelection, Nothing, Nothing
'Perform the selection using a point created on mouse down
pMap.SelectByShape pEnvelope, pMxApp.SelectionEnvironment, True
keiskr "gatves", "svarba", "1" 'this is my change value function, to change value for selected features
End Sub
Of course you would need to add UI Tool Control first.