Doesn't look like there is, but then, the documentation does say that
ErrorProvider is "a simple mechanism" for indicating that a control has an
error.  If you create your own ToolTip object, you can tell it how long to
wait before displaying, and how long to display the popup.  Perhaps you
could do something tricky like use ErrorProvider to get the flashing icon
behavior, but capture MouseEnter on the control so that when the user
actually does try to hover to see the error, you quickly cancel the
ErrorProvider and set a ToolTip instead.  Then reverse all that on
MouseLeave.  Kind of a hack, but it might get you what you want.