Currently, the Copy Appearance Properties Action is not consistent with the Size Both Action which uses the last selected element as base size. The Copy Appearance Properties Action uses the first selected element as base style. Furthermore, the last selected element is highlighted in a way that suggests this one is the reference to copy the style or the size.
To validate this issue:
Create a simple diagram with several graphical elements
Customize the style of one element
Select several element by selection the customize one at the end
Apply the copy appearance action
All selected elements should have the same style than the customized one.