What properties are you seeking to modify?
For many properties, the "SketchUp way" is direct manipulation using an appropriate Tool, not a properties sheet.
For example as location, scale, and orientation of a ComponentInstance are modified using Move, Rotate, Scale, Paint, etc.. The associated Layer, Instance Name, Definition Name, Classification, Hidden, Locked, and Shadows states can all be changed via the Entity Info window. Some actions are on a right-click context menu item such as Explode, Change Axes or Flip Along...
If you mean properties of the associated ComponentDefinition, the only ones besides name are so-called "behaviors", including glue-to, Cut Opening, Always face camera, and Shadows face sun. These are accessed via the Edit tab of the Components browser window.