Hi Gersh,
As far as I remember SELECT is simply processed before FOR/NEXT processing!
I have tested the simple script with changing variable name and it's not working:
*SELECT(%TIDS%,[TIMEID],TIME,[ID]=%TIME_SET%)
*SELECT(%TS%,[ID],TIME,[ID]=%TIME_SET%)
*FOR %TID%=%TIDS% AND %T%=%TS%
*SELECT(%Y_%TID%%,[YEAR],TIME,[ID]=%T%)
*XDIM_MEMBERSET TIME=%Y_%TID%%.01
*NEXT
Vadim