The DescriptionVisible property to hide the property's description bar.  Use the DescriptionHeight property to change the description window's height. Use the BackColorDescription and ForeColorDescription properties to define the background/foreground colors for property's description bar. Use the Description property to get the property's description.  Use the ToolTip property to display the property's description as tooltip.

For instance, you can hide the description window, and you can make your own description window ( in this case a Label control ):

Private Sub PropertiesList1_SelChange()
    Label1 = PropertiesList1.SelectedProperty.Description
End Sub

The following sample changes the property's description bar:

Private Sub Form_Load()
    With PropertiesList1
        .DescriptionVisible = True
        .ForeColorDescription = RGB(&HD0, &HF0, &HF0)
        .BackColorDescription = vbBlack
        .Select PropertiesList1.Object
    End With
End Sub