One way you can do this is to handle the TableControlCurrentCellValidating event, and if you are clicking on your cancelButton, call CancelEdit on the CurrentRecordManager.
private void gridGroupingControl1_TableControlCurrentCellValidating(object sender, GridTableControlCancelEventArgs e)
{
if(this.cancelButton.Bounds.Contains(this.PointToClient(Control.MousePosition))
&& Control.MouseButtons == MouseButtons.Left)
{
if (this.gridGroupingControl1.Table.CurrentRecordManager.IsEditing)
{
this.gridGroupingControl1.Table.CurrentRecordManager.CancelEdit();
}
}
}