The explanation, perhaps being lost in some of the other answers here:
The reason that this property is not being set is that layer.borderColor needs a value with type CGColor.
But only UIColor types can be set via Interface Builder's User Defined Runtime Attributes!
So, you must set a UIColor to a proxy property via Interface Builder, then intercept that call to set the equivalent CGColor to the layer.borderColor property.
This can be accomplished by creating a Category on CALayer, setting the Key Path to a unique new "property" (borderColorFromUIColor), and in the category overriding the corresponding setter (setBorderColorFromUIColor:).
It actually adds the feature to IB in Xcode! Some of the screenshots in other answers make it appear as though the fields exist in IB, but at least in Xcode 9 they do not. But following his post will add them.
You have set the data values for the radius and the width set to be a string, but it should properly be to be set to a number, not a string
When you get it working, this will not be visible while looking at the storyboard, but will be when the app is running unless you have taken steps to make it @IBDesigneable.