To reproduce:
public class RadForm1
{
	private RadButtonElement btnHelp;

	private void RadForm1_Load(object sender, EventArgs e)
	{
		btnHelp = new RadImageButtonElement();
		btnHelp.AutoSize = true;
		btnHelp.ShowBorder = false;
		btnHelp.Image = My.Resources.Resources.help;
		btnHelp.DisplayStyle = DisplayStyle.Image;
		btnHelp.ButtonFillElement.Visibility = ElementVisibility.Hidden;
		btnHelp.ClickMode = ClickMode.Release;
		btnHelp.Click += btnHelp_Click;

		this.FormElement.TitleBar.SystemButtons.Children.Insert(0, btnHelp);
	}

	private void btnHelp_Click(object sender, EventArgs e)
	{
		Process.Start("http://www.telerik.com");
	}
	public RadForm1()
	{
		Load += RadForm1_Load;
	}

}

Workaround:
Use the Press ClikMode.