Hi Ed,
I think you want to use the Edit Object Properties function (select .dsn file on the .opj page, then Edit Menu -> Object Properties). It will give you a list of everything and you can edit most properties, including part values, which will then be updated on the schematics. But before you do that, please consider using the BOM Include File function. It lets you rename items and add as much detail as you want in your BOM, based on combinations of the individual part values. As you are already finding out, updating the schematic is time-consuming and, if not performed perfectly, can screw up your reference netlist. For example, simply calling a cap 0.1uF on the schematic, while the include file has the WVDC, Manufacturers' part numbers (and alternates), footprint, etc. referenced to the 0.1uF part. Then, when you get a BOM change for obsolescence, you only change the include file (a simple text file) and re-run the BOM process -- your schematic and netlist remain untouched. Those are also vital to maintain a system that has obsolescence problems and you don't want to accidentally mess them up while just changing a part number.
I attached a small document I wrote long ago on how to use an include file to stuff different assemblies. I know this isn't what you are looking for, but it also provides an introduction into using the include file on a simple design so you can see how it works. The OrCAD screen may have changed since then (and I haven't used the include feature on version 17+), but the basic include file format and setup is there. If you need more info, please contact me...
Best of luck to you!
David