I don't know if this will be the way VS works, but yes, this is a limitation. If you notice that sometimes you click on a control and press F4 (or on the properties tab), you cannot load properties for the correct control, and then you must select it from the list.
Sigh
If you make your own user control and give it an event, this event will not appear on the properties tab when you place it on the page. You will need to fix it manually in the Page_Init event (for example, demonstrated by fallen888).
These days, I'm not worried about going to the properties tab to see the event. You can also enter the name of the event in the markup, and then write it to the code file.
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