Workaround: 

protected override void OnShown(EventArgs e)
{
    base.OnShown(e);

    LightVisualElement lve = this.radMultiColumnComboBox1.MultiColumnComboBoxElement.TextboxContentElement;
    RadArrowButtonElement arrow = this.radMultiColumnComboBox1.MultiColumnComboBoxElement.ArrowButton;
    lve.MaxSize = new Size(lve.Size.Width - arrow.Size.Width - (int)arrow.Border.Width, 0);
}