Firstly, modifier tags can be combined like {CTRL}{ALT}CTRLALT that applies to the next key only. However, if you assign non-key combinations with modifier keys should use this template in XMBC.
{PRESS}{ALT}{MWUP}{WAITMS:100}{RELEASE}{ALT}
Which basically Press
and holds Alt
before releasing it 100 ms later.
Some fields are directly modified by Logi Options agent app and XMBC cannot override them. You can check this by changing or disabling the default tilt wheels from XMBC. However, you can use your simulated keys in green areas in Photoshop.
Not Logi Options but Logi Options+ havehas a feature for Photoshop Zoom in predefined apps, which basically returns Alt+Vertical Wheel. ByWith this option, you can use zoomZoom in every area of the Photoshop window.