I have read in the GDK documentation that there are menu options which when get selected provide user with Grace period to cancel there action by swiping down.
Like the delete option which you get when you tap a card in Glass timeline.
I was wondering how can i implement such a menu item which has grace period ?
There's no built in solution at the moment, which is a bit disappointing. Hopefully with the next update they'll add a bunch of basic functionality that should have always been in the GDK.
See https://github.com/pif/glass-progress-bar
That library is pretty feature complete and will let you do everything you want.