What i had to do was, to open the .csproj file of my project and add es-ES; entry under the <SupportedCultures>
node.
I did try adding just es;, but it didn't work. It had to be es-ES; as in the toolkit project, under the LocalizedResources folder the resx files is called: ControlResources.es-ES.resx.
So the entry ended up looking like this:
<SupportedCultures>
es; es-ES;
</SupportedCultures>
To clarify, i did not have to add a localized resources file in my project, just added the supported cultures and the toolkit's localization kicked in.