Problem using itemRenderer method of AdvanceDataGrid

Question

Using following code, I', trying to render item in advance data grid but it's not working. What's wrong with the code ?

if(col.headerText=="Status") {
                            statusItemRendererFactory = new ClassFactory(Renderstatus);
                            col.itemRenderer = statusItemRendererFactory;
                            }
package {

import mx.controls.*;
import mx.controls.dataGridClasses.*;

public class Renderstatus extends Label {

 override public function set data(value:Object):void
 {
    Alert.show("in");
    if(value != null)
    {
       super.data = value;
       if(value.status!="Removed") {
              setStyle("color", 0xFF0000);
         }
         else {
             setStyle("color", 0x000000);
         }
    }
 }

}

}