Ok. Wanted to provide an update on the solution here. Here is what I needed to do:
1) Use the Repeater with Custom Query web part
2) Configure the query as follows:
DECLARE @List VARCHAR(100);
SELECT @List = Teacher FROM custom_course
WHERE ##Where##
SELECT * FROM custom_teacher
WHERE '|' + RTRIM(LTRIM(@List)) + '|' LIKE '%|' + CAST(TeacherID AS VARCHAR) + '|%'
3) Configure the WHERE condition field in the Repeater web part as follows:
custom_course.CourseID = '{%CurrentDocument.GetValue("CourseID")|(identity)GlobalAdministrator%}'
AND Presto! Only the Teacher values selected in the Multi-Select Form Control in the page's Form Tab show up as the Teachers associated with this Course.
I have utilized the Multiple Choice Dual List (With Sort) Form Control (from the Marketplace: http://devnet.kentico.com/marketplace/inline-controls/dual-list-multi-select-form-%28with-sort%29) so I am still sorting out exactly how to Order By the order of the Pipe Delimited values in the Teacher field of the Course table - but that is a secondary issue to this problem and final solution.
Thanks Virgil for your insight on this - it got me moving in the right direction. I hope that this final answer will provide others with support they need.