You can use the ArcMap Commands, eg.

  Dim pUID As New UID
  Dim pCmdItem As ICommandItem
  ' Use the GUID of the Save command
  pUID.Value = "{161496AD-AC99-11D2-87F8-0000F8751720}"
  ' or you can use the ProgID
  ' pUID.Value = "esriArcMapUI.EditSelectAllCommand"
  pUID.SubType = 3
  Set pCmdItem = Application.Document.CommandBars.Find(pUID)
  pCmdItem.Execute

You can use the ArcMap Commands, eg.

  Dim pUID As New UID
  Dim pCmdItem As ICommandItem
  ' Use the GUID of the Save command
  pUID.Value = "{161496AD-AC99-11D2-87F8-0000F8751720}"
  ' or you can use the ProgID
  ' pUID.Value = "esriArcMapUI.EditSelectAllCommand"
  pUID.SubType = 3
  Set pCmdItem = Application.Document.CommandBars.Find(pUID)
  pCmdItem.Execute

Or, check out this forum post to grab elements on mouse up event.

http://forums.esri.com/Thread.asp?c=93&f=993&t=158293