Found the solution now:

        public enum EnabTextEnum {No, Yes};
        private EnabTextEnum enabTextEnum;
        [Description("Determines whether the toggle switch's text is hidden or not"), Category("Appearance"), DefaultValue("No"), Browsable(true)]
        public EnabTextEnum EnableText
        {
            set { enabTextEnum = value; }
            get { return enabTextEnum; } 
        }

Now I need to add some action for when the property is changed in the designer. Not sure where to put the code. Into the user control class, as an event? Directly into the property's code?