Thank you for writing.
To achieve this, you can use the EditorInitialized event and there subscribe to the editors SelectedIndexChanged event and change the property when you change the selection in the editor. I have attached a sample project where I have created a custom enum with color names and a proxy class which uses this enum to change the fore color of a label. The is needed strictly for the demonstration. In your real app you just need to subscribe and unsubscribe to the editor events.
I hope you will find this useful. Should you need further help, I would be glad to assist.
the Telerik team
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