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Cancelling stuck Bitcoin transaction sent from your local BTC wallet requires you to run the qt wallet client with a special option that would remove all pending transactions that are not included in the blockchain. You need to run bitcoin-qt.exe (or the respective qt executable file depending on the OS you are using) with the -zapwallettxes parameter, but before running it make sure you backup your wallet.dat file.
I used this method and confirm it works. All these command line and only at startup options are a bit annoying. I tried using console to issue an abandontransaction "transaction string" but that issued an error saying it could not do the function.
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