Regex r = new Regex(@"(?<TM>[^.]*TEST.*)", RegexOptions.IgnoreCase);
First, as @manojlds said, you should use verbatim strings for regexes whenever possible. Otherwise you'll have to use two backslashes in most of your regex escape sequences, not just one (e.g. [!\\..]*).
Second, if you want to match anything but a dot, that part of the regex should be [^.]*. ^ is the metacharacter that inverts the character class, not !, and . has no special meaning in that context, so it doesn't need to be escaped. But you should probably use \w* instead, or even [A-Z]*, depending on what exactly you mean by "word". [!\..] matches ! or ..
Regex r = new Regex(@"(?<TM>[A-Z]*TEST[A-Z]*)", RegexOptions.IgnoreCase);
That way you don't need to bother with word boundaries, though they don't hurt:
Regex r = new Regex(@"(?<TM>\b[A-Z]*TEST[A-Z]*\b)", RegexOptions.IgnoreCase);
Finally, if you're always taking the whole match anyway, you don't need to use a capturing group:
Regex r = new Regex(@"\b[A-Z]*TEST[A-Z]*\b", RegexOptions.IgnoreCase);
The matched text will be available via Match's Value property.