The control you received is the version 4.1 instead of the version 4.0.

>>1..Is there a config file that lets us choose to use netSpell over ieSpell? 

Yes.  You can set the editor.UseNetSpell property to false if you want to use the Iespell.

Example:

 editor.UseNetSpell = false

>>2..How do I build a tool bar that only has text color, bold, italic, underline, bullets, indentation and the netSpell spell checker.

Please check the following article:

How to change the layout of the toolbars?

http://cutesoft.net/asp/Document/Howto_Change_layout_of_the_toolbars.htm

Hope it helps.

Let me know if you have any questions or suggestions.