If the items you are trying to bind to are not in the parent table, but in one of the child tables, then setting the BindingContext as above will not affect things.
The Currencymanager for these nested related tables come and go as your open and close the parent node for the tables. When the node is open, you can use teh GridBoudnrecordState to access the Currencymanager.
So, I do not think you will be able to easily binding to these nested tables using DataBinding.Add. But you can manually bind using the CurrentCellMoved event in the grid and the Leave event of your bound controls. Here is a little minimal sample. It binds two columns of the grandchild table in a 2 level hierarchy to two textboxes on the form. Maybe something like this will work for you.
forum_FormBinding_3194.zip