No, not cashed.
To clarify i am trying to do this in a .ascx file that is a template. inside a class project outside the actual sitefinity project. Just in the same solution. I have added the references to the telerik dlls. I assumed this would be enough for the controls to be recognised.
This by the way does not stop the application from actually working. As it gets compiled into a dll and used within the sitefinity web page. There it can find its appropriate assemblies.
It just makes it impossibly difficult to design the template. I am doing this according to the products module sample available the sitefinity blogs site.