It really depends why you are hiding the components. If you are only interested in making the components 'not visible' you can use layers or the Model setup function.
Blank components using layers:
Create a layer and add components. The shift key technique should work in the model tree to select many components quickly. If this is a problem then use Select by Menu and then select Range. Enter the feature number of the first comp. and then the feature number of the last comp. Blank the layer and save status (if you want to retain layer display when the assembly is opened in the future).
Component Display (Model Setup):
Pro/E 2000i (View --> Model Setup --> Component Display...)
Create a display name for future use. Select the display type (blank, wireframe, hidden line, no hidden, shading, etc). Select each (or all) components for the selected display type. Make your picks from the model tree - much easier. You can also pick UpdateScreen at any time to see your display changes. Select done.
This is a great function, since you can wireframe some components and shade others. Much better than trying to edit the colors and transparencies of components.