Hi Russell Mason,
We are in a process of implementing a new client event which fires right after the user has double clicked the node to edit it /or pressed F2/. In this event you will be able to change the text of the node.
Currently, when the user presses Esc button - no event is fired, because the old text of the node is returned back and the edit is canceled.
Stay tuned for the next official release.
the Telerik team
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