[2.0] custom format column datagridview

[Techno]

in a datagrid view, if I add a custom row (not binding to anything at all):

this.theDataGridView.Columns.Add("Value", "Value");
this.theDataGridView.Columns.Add("Name", "Name");

string[] rows = new string[2];
rows[0] = "5.236";
rows[1] = "blah";

this.theDataGridView.Rows.Add(rows);

how can I set the format of the value column?

I know that this works:

this.theDataGridView.Columns["Value"].DefaultCellStyle.Format = "#.##";

but only when you are binding to a datasource, such as SQL.

If I apply this at any point in the code, it still does not format the column, to give me the format as follows:

x.xx -> 5.23

any ideas?