You don't have to select anything.
Code:
Private Sub Document_ContentControlOnExit(ByVal ContentControl As ContentControl, Cancel As Boolean)
Select Case ContentControl.Title 'or .Tag
Case "Title of CC you want this code to fully execute"
ActiveDocument.Fields.Update
End Select
End Sub
There are considerably better ways to defined conditional text based on a list selection that IF fields. See:
http://gregmaxey.com/word_tip_pages/...wn%20list.html