I've never worked with an AdvancedDataGrid but I assume a few principles hold. The first being the behavior of event propagation. The event gets processed by the button before it gets processed by the grid. This means that we can catch and stop the event from ever reaching the DataGrid. Below is a code sample demonstrating how a DataGrid renderer can have a Button without triggering other behavior.
CustomerRenderer...
<fx:Script>
<![CDATA[
protected function watchButtonClickHandler(event:MouseEvent):void
{
//the line below stops the event from
//propagating through the rest of the display
//list
event.stopImmediatePropagation();
//handle button click logic here
}
]]>
</fx:Script>
<s:Group width="100%" id="buttonGroup">
<s:layout>
<s:HorizontalLayout horizontalAlign="center" verticalAlign="middle"
paddingBottom="1" paddingLeft="1"
paddingRight="1" paddingTop="1" />
</s:layout>
<s:Button id="watchButton" width="98" label="{buttonLabel}"
click="watchButtonClickHandler(event)"/>
</s:Group>
....