Due to an issue in the RadToolStrip, subscribing to the FloatingFormCreated event does not work for this scenario, so you should set the Visible property from your own event handler (e.g. a button click or a timer elapsed handler).
As of Q3 2010 RadToolStrip is marked as obsolete, so I would suggest using its replacement control - the RadCommandBar. It provides the same functionality as the RadToolStrip and adds some new features. Floating strips and Customize dialog will be added to the RadCommandBar in the upcoming service packs.
Sincerely yours,
Ivan Todorov
the Telerik team
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