When you say you cannot set the value to null, what exactly do you mean? I beleive that setting the column to null should work.
What happens when you do so?
Hm. Well, that's clearly wrong. What version of the grid are you using? Maybe you need to get the latest Hot Fix? If you already have the latest and still have the same problem, I recommend that you Submit an incident to Infragistics Developer Support. Include a small sample project demonstrating the error if you can.
You can download hot fixes for any products you have registered here: My Infragistics Keys and Downloads - Download Anything and Everything You Own
Are you getting an exception on the actual line of code that does the set? If so, then I wonder if your try...catch is working, but you simply have the Visual Studio IDE set up to break on all exceptions and that this exception is being caught and handled.