DataGrid - Extracting edited Value from DataGridEvent

    private function saveValue(event:DataGridEvent) : void
    {
        if(event.reason == DataGridEventReason.CANCELLED)    
           return;
        var newValue : String = TextInput(event.currentTarget.itemEditorInstance).text;
        var prevCellValue : String = myDataGrid.selectedItem[event.dataField];
       
        if( prevCellValue == newValue)
           return;
        Alert.show("New value :: "+newValue);
    }

    ...
    ...

 <mx:DataGrid id="myDataGrid" width="100%" dataProvider="{defCreativeVals}" editable="true" itemEditEnd="{saveValue(event)}">
 <mx:columns>
     <mx:DataGridColumn headerText="Column" id="colColumn" editable="false" dataField="name"/>
     <mx:DataGridColumn headerText="Value" id="colValue" editable="true" dataField="value" />
 </mx:columns>
 </mx:DataGrid>