When you are working with control designers (or, for any reason) you sometimes have the need to debug class libraries in design time, and doing it is very easy.
To show you how easy it is, I created a sample solution consisting of a class library and a windows forms project.
The class library only has a custom Button, with only one property, like this
The Windows forms project contains a form, with my button
All you need to do is set the class library as the startup project, and set it to start with another instance of Visual Studio.NET.
Right click on the class library project à properties à debug à Start External Program
The default install directory for Visual Studio.NET 2008 is C:\Program Files\Microsoft Visual Studio 9.0\Common7\IDE\devenv.exe
Press F5, and open your test solution when VS.NET loads.
And that's it! To test it, set a breakpoint in the property setter in the original instance of VS.NET and open the form containing the button from the second instance, it will stop when the designer tries to set the property
I originally did it with ASP.NET (I wanted to see how exceptions were handled in design time, to catch them, and show them formatted in red in the control designer of my controls), so it works perfectly with it too.