Yes, the idea is that you can drill down through the hierarchy of elements as per the "Edit UI Elements" Smart Tag. For exmaple, to change the style of the border on a button to be dashed.
Also which might help is this link on the hierarchy editor
and this link on RadControlSpy
If you need any further help, then let me know
Telerik.WinControls.Primitives.BorderPrimitive border = (Telerik.WinControls.Primitives.BorderPrimitive)
border.BorderDashStyle = System.Drawing.Drawing2D.DashStyle.Dash;