Well yes. If you had a 4 column hidden table in a document where:

Column 1: Index number 1 to whatever
Column 2: Item in dropdown list
Column 3: Type value for item
Column 4: Color value for item

Then you could use something like this:

[vba]Option Explicit
Private Type ListData
pType As String
pColor As String
End Type
Private Sub Document_ContentControlOnExit(ByVal CC As ContentControl, Cancel As Boolean)
Dim tData As ListData
If CC.Tag = "ddTest" Then
tData = GetData(CC.Range.Text)
With ActiveDocument
.SelectContentControlsByTitle("Type").Item(1).Range.Text = tData.pType
.SelectContentControlsByTitle("Color").Item(1).Range.Text = tData.pColor
End With
End If
End Sub
Private Function GetData(pText As String) As ListData
Dim oRng As Word.Range
Dim oTbl As Word.Table
Dim lngIndex As Long
Set oTbl = ActiveDocument.Tables(1)
Set oRng = oTbl.Range
With oRng.Find
.ClearFormatting
.Text = pText
.Execute
If .Found = True Then
lngIndex = CLng(Left(oRng.Cells(1).Previous.Range.Text, Len(oRng.Cells(1).Previous.Range.Text) - 2))
End If
End With
If lngIndex > 0 Then
GetData.pType = Left(oTbl.Cell(lngIndex, 3).Range.Text, Len(oTbl.Cell(lngIndex, 3).Range.Text) - 2)
GetData.pColor = Left(oTbl.Cell(lngIndex, 4).Range.Text, Len(oTbl.Cell(lngIndex, 4).Range.Text) - 2)
Else
GetData.pType = ""
GetData.pColor = ""
End If
Set oTbl = Nothing
Set oRng = Nothing
End Function
[/vba]

But then we are back to using the .Text property vice the .Value property. Unfortunately CCs are as you say "weak."