So I was trying to get this to work with just using the Process Editor that comes with TFS Powertools. I was able to create the field that I wanted as well as the pick list.
What I couldn't do was define the PreferredType in the Controlfield name. My work around was to save the file to the server, export the wit, edit the xml in notepad++ save the wit file and then use the Process editor to import the Wit.
The good news is that the control works as expected when using Visual Studio and you have the control installed on your PC. What doesn't work is using the Web interface. I just get the dropdown and no multiselect.
Does the Web interface support the multivaluecontrol on TFS 2015 Update 3 ?
Any help would be greatly appreciated.