Here is one way of doing this. Note that I check that what is in the textbox is numeric.

Code:
    Private Sub TextBox1_TextChanged(sender As System.Object, _
                                     e As System.EventArgs) Handles TextBox1.TextChanged
        'used to set timer interval on the fly
        'user input is number of ms followed immediately by #
        'e.g. 1000# = 1000 ms
        If TextBox1.Text.Trim.EndsWith("#") Then 'does textbox end with #
            'yes
            Dim s As String = TextBox1.Text.Trim.TrimEnd(New Char() {"#"c}) 'get number part
            Dim i As Integer
            If Integer.TryParse(s, i) Then 'if it is an integer set timer1.interval
                Timer1.Interval = i
                TextBox1.Text = ""
            Else
                Debug.WriteLine("error nan") 'not a number
            End If
        End If
    End Sub