Is there a way to configure how the Solidworks "Change transparency" command works?

If my parts have colors or appearances applied at the part level, they become grayscale when "change transparency" is selected in the top level assembly. The same thing happens if I manually edit the appearance of the part in my assembly. The part colors are lost as soon as I apply a new appearance at the assembly level. I can't find a way to modify transparency at the assembly level without overriding/losing the part colors in my subassemblies.

Is there an option to modify the transparency of a part in my assembly while preserving the colors/appearances that were applied at the part or subassembly level?