I figured out a way to get it to work.
The following code is using a CWnd called m_Control that is made to host a winform via a little documented version of CreateControl. Seems to work fine so far. If anyone sees any drawbacks, please comment or respond.
AfxEnableControlContainer();
Microsoft::VisualC::MFC::CControlCreationInfoEx i;
i.Init(System::Type::GetTypeFromProgID(gcnew System::String(sProgID)),
CControlCreationInfo::ReflectionType);
i.m_clsid = CLSID_WinFormsControl;
POINT pt;
pt.x = pt.y = 0;
SIZE sz;
sz.cx = sz.cy = 100;
m_Control.CreateControl(i, WS_CHILD | WS_VISIBLE | WS_CLIPCHILDREN,
&pt, &sz, CWnd::FromHandle(m_hWnd), ID_CONTROL);