In Silverlight: Well... yeah, you can't do a binding. Here I used a static resource, (which probably won't meet your needs). This is closest you are going to get without doing the bindings in code.
<UserControl x:Class="SilverlightApplication1.MainPage"
xmlns="http://schemas.microsoft.com/winfx/2006/xaml/presentation"
xmlns:x="http://schemas.microsoft.com/winfx/2006/xaml"
xmlns:d="http://schemas.microsoft.com/expression/blend/2008"
xmlns:mc="http://schemas.openxmlformats.org/markup-compatibility/2006"
xmlns:system="clr-namespace:System;assembly=mscorlib"
mc:Ignorable="d"
d:DesignHeight="300" d:DesignWidth="400"
Name="this" Tag="0.5">
<UserControl.Resources>
<system:Double x:Key="opacity">0.5</system:Double>
<Style TargetType="TextBlock">
<Setter Property="Opacity" Value="{StaticResource opacity}"/>
</Style>
</UserControl.Resources>
<StackPanel>
<TextBlock Text="ABC"/>
<TextBlock Text="DEF"/>
<TextBlock Text="GHI"/>
<TextBlock Text="JKL"/>
</StackPanel>
</UserControl>
EDIT:
Well, here it is in WPF anyway...
Here you go, in WPF:
<Window x:Class="WpfApplication8.MainWindow"
xmlns="http://schemas.microsoft.com/winfx/2006/xaml/presentation"
xmlns:x="http://schemas.microsoft.com/winfx/2006/xaml"
Title="MainWindow" Height="350" Width="525"
Name="MyWindow" Tag="0.5">
<Window.Resources>
<Style TargetType="{x:Type TextBlock}">
<Setter Property="Opacity" Value="{Binding ElementName=MyWindow, Path=Tag}"/>
</Style>
</Window.Resources>
<StackPanel>
<TextBlock Text="ABC"/>
<TextBlock Text="DEF"/>
<TextBlock Text="GHI"/>
<TextBlock Text="JKL"/>
</StackPanel>
</Window>
Of course you can get a lot more creative than this. Also, depending on how / when / where your styles are defined, it is sometimes easier just to do it in code.