Do tag based tooltips work in perspective? I've been trying to get it to work with no luck so i'm not sure if it's a perspective thing or if it's how I'm implementing it.
Tooltips for the containers work just fine in perspective for my project but I cannot get the tag tooltip to show up.
Not the way you're thinking. In Vision, there's actual "tag" objects. In Perspective, everything's just JSON - so a given property might have the same value as a tag (via a binding or otherwise) but there's no meta information about what that came from.
If you wish to set the tooltip in a tag and have that displayed when the cursor hovers over a component then bind the component's tooltip to the tag's tooltip.
Perhaps I'm misinterpreting the description but to me that says that any control that is bound to a tag that has a tooltip assigned should auto show that tooltip. Is that not correct?
Not correct. When you drag and drop a tag, the designer will create these bindings for you in many cases. But if you are binding manually, you will need to make your own tooltip binding.