Preheat oven to 375°F. Combine grapes, jelly and orange juice in saucepan; cook on medium heat 7 to 10 min. or until grapes burst, stirring occasionally. Mix cornstarch, lemon juice and water until well blended. Add to grape mixture; mix well. Bring to boil; cook 1 min. or until thickened, stirring constantly. Spoon into shallow 1-qt. casserole dish or 8-inch round baking pan; set aside.
Place butter, brown sugar and cinnamon in medium saucepan. Cook on medium heat 1 min. or just until bubbly, stirring frequently. Remove from heat. Stir in cereal. Spoon over grape mixture.