
tell application id "com.figure53.QLab.4" to tell front workspace
try
set theLevel to pre wait of cue "FAD"
repeat 10 times
if theLevel > 0 then set theLevel to (theLevel - 0.01)
set the pre wait of cue "FAD" to theLevel
delay 0.3
end repeat
end try
end tell
This is the best solution I can think of for your problem.
It uses a memo cue numbered FAD which stores a value between 0 and 1 in its pre wait.hotkey 1 fires a script that subtracts 0.01 10 times from the value with a repeat loop.

-tell application id "com.figure53.QLab.4" to tell front workspace
try
set theLevel to pre wait of cue "FAD"
repeat 30 times
if theLevel < 70 then set theLevel to (theLevel + 0.1)
set the pre wait of cue "FAD" to theLevel
delay 0.1
end repeat
end try
end tell