As the matter of fact is the there is no automatic cancellation of POs during the release process. POs either get Approved or Rejected. So you query is difficult to comprehend?
Are you referring to Rejected POs as Cancelled POs? If so then you have to actually create a new Release Indicator to reflect such rejections. The standard configuration is that the PO remains in blocked status even after rejection, so you cannot actually make out whether the PO is in that status because it is waiting for approval or it is rejected.
Also look at PO change history, may be you can find some difference between the way change history updated while being approved or rejected.
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