Yes, now you can cancel your orders on Google Checkout.
Suppose you have entered a wrong shipping address or you want a different product or you have seconds thoughts about the product which you have just ordered, then with Google Checkout you can quickly and easily cancel your order. You have to navigate to the Order Receipt and click the "Cancel" button at the top of the page. This button will be available for up to 15 minutes after placing orders on most Checkout merchant websites. If the "Cancel" button doesn't appear then you'll need to contact sellers directly.
Sellers will now be able to see in their inboxes which orders are within the 15-minute cancellation window and which orders have been canceled by buyers.
More information available at: http://googlecheckout.blogspot.com/2007/11/now-you-can-cancel-that-order-when-you.html
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