When I'm shift+right clicking a belt it will downgrade from blue to yellow, where I would expect it to downgrade to red instead. Is that intended? Not holding shift makes it red as I would expect. There are exclusively blue belts in my belt thread, including the splitters and undergrounds.
Also would be nice if it would consider all belt threads the selection includes, rather than just the top leftmost belt thread only.
Fixed the bug in version 1.0.3, thanks for reporting it.
Regarding the complete selection, I'll have a look, it should be doable without impacting performance too much. But it'll take a bit to test and make sure belts don't get double-upgraded, for example.
And version 1.0.5 now has by default, all selected belt threads are affected (rather than the previous top left). It is optional and the user can revert to the previous use should they wish in the mod settings menu.