Hi Suganth,
Thank you for sharing the sample application.
I have evaluated the presented scenario while using your sample application and I am able to replicate the exception “Error in Cell: Invalid Formula” by inserting an incomplete/invalid formula to GridCell. However, I am not able to observe the hanging issue of IE 11 during the evaluation. The GridWeb component is able to set the invalid formula as cell value without exhibiting any performance lag. Please check the attached snapshot for IE 11 version information. Could you please state if you have tested the hanging issue on some other machines because it could be specific to your environment only?
Regarding the aforementioned exception, we need to discuss the matter with the concerned member of the product team to conclude if it is expected behaviour. We will shortly get back with updates in this regard.