I like it.
You say its not really a control, rather that its faked. but don't you realize that if the treeview was on its own borderless form and was created and called via the button next to a textbox, and you encapsulated all the code in a usercontrol it would be a true simple drop in control VS what you are calling a fake. Its a really good idea. And you have taken it all the way to the end. all that is missing is a little tidying up to make it a full fledged drop in control.
Good work.
you could even use EX_Animate_window to make it slide down and up when appearing, if you wanted too.
If you are interested in this and need some help getting started i would love to give you a hand.