I thought I had figured it out, but I didn't. How can you select the text (I.E. so it shows highlighted) of ToolBar Text box? I see no easy way, or any way for that matter.
If you cast the tool to a TextBoxTool, you can access properties related to the selection of text such as SelectedText, SelectionStart, SelectionLength
CType(Me.UltraToolbarsManager.Tools("MyToolKey"),Infragistics.Win.UltraWinToolbars.TextBoxTool)