By "changing the text color" do you mean the property of the control? You don't want to use double click elsewhere to select a word - just not the last one?
A trailing space is just a partial solution. With the code it's the Event you're cancelling - not the event procedure. (The event is a UI action - it just also optionally first calls an event procedure - which can in turn cancel certain events).
Whatever code you did have in the DblClick event can remain there - just include the Cancel statement too.
Try it! :-)
Cheers