All that is missing from your C# line is a cast for this.WebDataGrid1.Behaviors.Selection.SelectedRows[0].DataItem to DataRowView. For example the following would work:
if (((DataRowView)this.WebDataGrid1.Behaviors.Selection.SelectedRows[0].DataItem)["Status"].ToString() != "Released")
{
//do stuff
}
Note that the following may be easier to read:
DataRowView drv = (DataRowView) this.WebDataGrid1.Behaviors.Selection.SelectedRows[0].DataItem;
if (drv["Status"].ToString() != "Released")
{
//do stuff
}
I am assuming that the VB code that you are converting from worked because Option Strict wasn't set so the conversion between Object and DataRowView didn't need to be done explicitly.