This behavior will be apparent when using the Jet 4.0 OLE DB provider to make a connection to an Access database (.mdb file) and opening a table, which has an index field capable of behaving as a pseudo ObjectID*, in ArcMap. Make a selection from the table and switch the table window to show only the selected records. ALL the records are shown as selected.
See Related Information below.
This is a known issue.
Make the OLE DB connection using an appropriate ODBC driver and the Microsoft OLE DB provider for ODBC drivers.