I almost forgot to mention this. The original poster asked
"If Masterpages do not have the preinit event, then how can I set the theme dynamically for all my
pages that are based upon the single Masterpage?"
The question points out something which can be misleading. Master pages are not objects from which pages that use them are derived. Rather, think of master pages as formatting files. The content pages are the top-level objects, with the "master" page being just an example of how you want the web server to render the common elements among your pages.
An important result of this then is that all code that is not common to all pages should be placed in the content pages, not in the master page(s). The content pages are actual Page objects, so they have all the methods and proprties of "stand-alone" Page objects (those not using master pages).
Some New Guy
http://www.paxgalacticaonline.com/