Can I have a custom grid update template using kendo.Observable() object.

I have a requirement like this.

I am making a dynamic grid. In that grid dataSource can be change any time. Because of that I am making dynamic grid. In that grid update popup It has a Boolean value. So I wanna change it to radio button. So what I am try to do is I add a custom template.

editable: {
                mode: "popup",
                template: kendo.template($("#myCustomTemplate").html())
            }

 When someone click the update button it will give this template.

<script type="text/x-kendo-template" id="myCustomTemplate">
    <div id="lead-update22">
        <table data-template="leadFieldsTemplate"  @*data-bind="source: dataField.leadModel"*@></table>
    </div>
</script>​

But this grid is dynamic. So I try to make kendo.Observable() object and try to make the field to bellow template with in the above template.

<script type="text/x-kendo-template" id="leadFieldsTemplate">

<script>

 But this is not working. I wanna know that if it is possible to do something above ??