Hello John,
To your questions:
- In order to hide the pointer, you should set the RadToolTip's ShowCallout property to false. Please, make sure that you are using the Q1 2008 build (2008.1 415).
- This is not possible for the time being, but it is already logged as a feature request and will be available in the future.
Sincerely yours,
Svetlina
the Telerik team