I'm not familiar with the design-time feature of the wrapper as I never had to use it so the first option would fit me too.
However, could not it be possible, using option 1, to add to the current installation package a DLL which purpose would only be to support the design-time feature? That is, keep the current DLL to be deployed/installed on devices but let Visual Studio use other files (something like option 2)?
Again, I have no idea of what can be done with Visual Studio and its design-time features regarding platform/DLL issues.