Binding the value of a Setter Property in WPF

I have spent all day looking for a way to display a default string of text on a ComboBox and the closest I managed to find that worked was an example that uses watermarking. When my application opens, the ComboBox's Visibility property is set to Collapsed and then made visible by a command. Unfortunately, I can't get the watermark to follow suit. Here is what I'm working with:

<Style x:Key="watermarkLabelStyle">
    <Setter Property="TextBlock.Foreground" Value="Black" />
    <Setter Property="FrameworkElement.Opacity" Value="0.8" />
    <Setter Property="TextBlock.FontSize" Value="12" />
    <Setter Property="TextBlock.FontStyle" Value="Italic" />
    <Setter Property="TextBlock.Margin" Value="8,4,4,4" />
    <Setter Property="TextBlock.Visibility" Value="{Binding Visible}" />
</Style>

{Binding Visible} has no effect even though other controls in the window are bound to it and behave properly.

<ComboBox ItemsSource="{Binding LeagueFormatsNode}"
          x:Name="leagueFormatComboBox"
          Grid.Column="0"
          Grid.Row="1"
          Grid.ColumnSpan="3"
          ScrollViewer.CanContentScroll="False"
          HorizontalContentAlignment="Stretch"
          Visibility="{Binding Visible}"
          Behaviors:WatermarkComboBoxBehavior.EnableWatermark="True"
          Behaviors:WatermarkComboBoxBehavior.Label="Select League Format"
          Behaviors:WatermarkComboBoxBehavior.LabelStyle="{StaticResource watermarkLabelStyle}" /> 

And the Visible property in the viewmodel:

public Visibility Visible
{
    get { return _visibile; }
    set
    {
        if (_visibile == value)
            return;
        _visibile = value;
        RaisePropertyChanged(() => Visible);
    }
}

What can I do to make the setter in the style behave and register the binding?