When you create a dynamic module, the data for the items is in the database and all other information is in the configuration files. The dynamic modules do not have their own class, because they are dynamically created. If you are trying to decompile the dll you will not have the ability, because there is no such dll for the module.
Furthermore, the .NET Reflector is debugging into the source of all the .NET code, however you are not able to see the code of a class that does not exist physically.
All the best,
the Telerik team
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