If your grid is attached to a data set, and the data in the dataset changes, the OnGetContentStyle events are called automatically. Make sure that your dataset knows that the data is updated. It sounds like your editing form isn't telling the grid dataset to refresh itself. You can do that either with a callback procedure or implementing the Observer Pattern.
The following code demonstrates how to implement an OnGetContentStyle event for a grid column.
procedure TFormWithGrid.cxGrid1DBTableView1LASTNAMEStylesGetContentStyle(
Sender: TcxCustomGridTableView; ARecord: TcxCustomGridRecord;
AItem: TcxCustomGridTableItem; var AStyle: TcxStyle);
begin
if ARecord.Values[cxGrid1DBTableView1FIRSTNAME.Index] = 'test' then
begin
AStyle := TcxStyle.Create(nil);
AStyle.Color := clRed;
AStyle.Font.Style := [fsBold];
end;
end;