Hi Altoff.

Maybe this markup will help?

\startuniqueMPgraphic{cancel}
  pickup pencircle scaled 0.7pt ; 
  path p ; p := OverlayBox topenlarged -ExHeight bottomenlarged -ExHeight ;
  draw llcorner p -- urcorner p withcolor OverlayColor ;
\stopuniqueMPgraphic

\defineoverlay[cancel][\uniqueMPgraphic{cancel}]
\defineframed[cancel]
  [background=cancel,frame=off,offset=0pt,location=low]

\starttext

\startformula
  6 \frac{3}{8} \div 4 \frac{1}{2} = \frac{27}{4} \div \frac{9}{2} = 
\frac{\cancel{27}^3}{\cancel{4}^2} \times \frac{\cancel{2}^1}{\cancel{9}^1} = 
\frac{3}{2} = 1 \frac{1}{2}
\stopformula

\stoptext

HTH,
kitz
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